Kazakhstan determines People’s IPO shares pricing procedure

May 11. Trend

By E. Kosolapova

Kazakhstan determines People's IPO shares pricing procedureKazakhstan determined a pricing procedure of national companies’ shares within People’s IPO program, Novosti-Kazakhstan reported.

“The share price is determined in two stages: an independent appraiser company sets a price range and professional investors offer a fixed price, which should be approved by the Board of Directors of Kazakh Sovereign Wealth Fund Samruk-Kazyna and by the Government,” People’s IPO twitter-account says on Friday.

Shares prices for each company will be determined 3-4 weeks before the start of sales.

People’s IPO program envisages a phased placement of the shares of the biggest and stable state companies on the stock market. KazTransOil company will first conduct IPO (the company’s shares will be proposed in September 2012). The shares of KEGOC, Air Astana, Kazmortransflot, Samruk-Energy and KazTransGas will be placed in IPO in 2013. Kazakh Railway, Kaztemirtrans, Kazatomprom, KazMunaiGas will hold IPO in 2014-2015. The program was developed under Kazakh President Nursultan Nazarbayev’s order.