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Samruk-Kazyna announced price per share of KazTransOil

30 october 2012, 12:45
0
Photo courtesy of kmg.kz
Photo courtesy of kmg.kz
Samruk-Kazyna National Welfare Fund approved the cost of 1 share of KazTransOil, Tengrinews.kz reports citing deputy chairman of the fund Kuandyk Bishimbayev.

“The board of Samruk-Kazyna National Welfare Fund approved the size of equity offering and the cost of one share of KazTransOil. The cost of one share is set at the level of 725 tenge ($4.8),” Bishimbayev wrote in his Facebook.

“The price was formed based on the recommendations of the consultants of UBS international company and Kazkommerts Securities that comprehensively evaluated the company’s cost. The number of shares to be floated is set at 10 percent minus 1 share of the total number of authorized common shares of the company. 38,465,559 common shares will be floated,” the press-service of Samruk-Kazyna writes. “The number of shares available for purchase by retail investors under the initial placement of KazTransOil shares will be limited: bids of the retail investors will be fully satisfied within the limit of 7 million tenge ($47 thousand).”

Kazakhstan Government has developed a program for placement of the shares of Samruk-Kazyna's subsidiaries and dependent companies. The Government expects participation of at least 160 thousand individuals and all the saving funds of Kazakhstan. The People’s IPO is scheduled in stages until 2015 and provides for a gradual placement of the shares of major and most stable state-ownted companies.

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