359 Objects Of State Property To 88 Bn Tenge Privatized In Kazakhstan

Wealth Fund Rid of `Pocket Change' Readies Flurry of Kazakh IPOs

359 objects valued 88 bn tenge have been privatized in Kazakhstan at the end of November 2016, said Bakhyt Sultanov, Minister of Finance.

“359 objects have been privatized under the complex plan, since June 2014 until November 2016 to 88 bn tenge. Almost 72% of them are the objects of Samruk-Kazyna SWF to 63 bn tenge,” he said.

In his words, in 11 months of the year 111 objects have been transferred in the private hands for 9.5 bn tenge. 193 objects valued 183 bn tenge are on trades now.

Samruk-Kazyna is a sovereign wealth fund and joint stock company in Kazakhstan which owns, either in whole or in part, many important companies in the country, including the national rail and postal service, the state oil and gas company KazMunayGas, the state uranium company Kazatomprom, Air Astana, and numerous financial groups. The state is the sole shareholder of the fund. It was created in October 2008 with the merger of two funds, “Samruk” and “Kazyna”, by decree of the president of Kazakhstan, Nursultan Nazarbayev.

By the resolution of the Government of Republic of Kazakhstan dated 28 September, 2016 Prime Minister of the Republic of Kazakhstan Bakytzhan Sagintayev appointed as the Chairman of the board of directors of JSC «Samruk-Kazyna».