Applications worth 104 million tenge drawn up to buy KazTransOil shares

Nov 6. Trend. Astana

By D. Mukhtarov

Applications worth 104 million tenge drawn up to buy KazTransOil sharesApplications worth 104 million tenge was accepted for opening brokerage accounts to buy stocks of KazTransOil during the first day for applications, CEO of the group companies of KazMunaiGas Nurlan Balgimbayev said during a road show of KazTransOil on Tuesday.

During the road show, sources at the Kazpost national company said that the applications came to six million tenge.

Acceptance of applications for the purchase of shares of JSC KazTransOil in the frame of the programme was launched on Tuesday. The value of one ordinary KazTransOil share during the initial offering on the organised securities market was previously set at 725 tenge (150.86 tenge =1 dollar) per share. Possible application size is seven million tenge.

The People’s IPO will allow the citizens of Kazakhstan to become co-owners of the major national companies.

The programme envisages a phased placement of the shares of the biggest and stable state companies on the stock market in 2012-2015. KazTransOil Company will first conduct the IPO in 2012. The shares of KEGOC, Air Astana, Kazmortransflot, Samruk-Energy and KazTransGas will be placed in IPO in 2013. Kazakh Railway, Kaztemirtrans will hold IPO in 2014, with Kazatomprom and KazMunaiGas in 2015.

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Some 40 percent of KazTransOil profits to be allocated to pay dividends of People’s IPO

Nov 5. Trend. Astana

By D. Mukhtarov

Only 40 percent of the profit of JSC KazTransOil will be allocated for payment of dividends under the People’s IPO program, Director General of the JSC Kairgeldy Kabyldin said at a press conference on Monday.

“We changed the dividend policy. At least 40 percent of the net profit of the company will now be sent to the payment of dividends. This figure is now the highest among the already placed shares,” Kabyldin said.

The People’s IPO will allow the citizens of Kazakhstan to become co-owners of the nation’s largest companies.

In July 2011, the Board of Directors of JSC National Welfare Fund Samruk-Kazyna has approved the program of placing of subsidiaries and affiliated companies’ shares in the stock market.

In September 2011, the program has been approved by the Government of Kazakhstan. A list of joint stock companies, which shares will be offered for sale in stages until 2015, was determined.

The program involves restrictions on the maximum number of shares to be purchased by one individual in order to the concentration of securities in the hands of a small group of individuals.

Businesses of the People’s IPO are included in National Welfare Fund Samruk-Kazyna. “It’s a quarter of the country’s economy, the strategic assets of Kazakhstan. It is an infrastructure: oil and gas, electricity, railways, power plants, aircraft, marine. The government will retain control over the basic enterprises – only small stakes are intended to be sold.

The companies with no significant dependence on world prices for raw materials are chosen for the participation in the program.