PM Massimov welcomes comments on people’s IPO

Kazakhstan’s PM Karim Massimov has invited all to put forward suggestions on the planned “People’s IPOs” on his personal pages in social networking sites, Tengrinews.kz reports. “Initiated by the President, the People’s IPO is an opportunity for every Kazakh citizen to become a shareholder and benefit directly from large national companies known as “national leaders”. “One way individuals may benefit is by selling their shares at a profit. Of course, this outcome is not guaranteed. Investing in the stock market involves risks and share prices can go down as well as up. But, as the economy grows and our industrialization objectives are realized, companies will benefit, including those ‘national leaders’ that are taking part in the People’s IPO”. “Another key government objective for the People’s IPO is to encourage an ownership culture within state-owned entities. Private shareholders (a shareholder is an owner) have a powerful incentive to demand high levels of performance from company management, which is something we want to encourage”. “I invite all the visitors of my website and blog to voice their opinions on the People’s IPO. Your ideas and proposals are important to us and will be taken into account. Please share your comments”. Many Internet users embraced the news of PM launching personal profiles on social networking sites. When asked in Twitter whether he would exercise his right to vote at the forthcoming presidential elections, Mr. Massimov answered “Sure, I will vote. It’s a civil duty of each Kazakhstan’s citizen”.