Air Astana And Kazatomprom To Start IPO Not Earlier 2018

Kazakh telecom operator Kazakhtelecom eyes 2018 IPO

Initial Public Offering of the shares of Air Astana and Kazatomprom is planned not earlier than 2018, said Dauren Tasmagambetov, director of privatization department and assets restructuring of Samruk-Kazyna SWF.

“There are seven companies planning IPO now, but the terms will be specified. We are at the initial stage now, we are choosing investment banks. After they learn a company, conduct due diligence, we will know the terms.

Presumably the first candidates for IPO now are Air Astana and Kazatomprom, but not earlier than 2018,” he said in the comment to the journalists at the briefing of Samruk-Kazyna for the diplomatic corps accredited in Kazakhstan and international companies.

“We know that the international financial center Astana is our priority. If we have good markets, good conjuncture, demand  and possible interest from the side of western markets, we don’t exclude double listing,” he added.

He said there are seven companies planning IPO under the order of the Government dated December 30 2015 N1141 “On some issues of privatization in 2016-2020”.

According to the fund’s strategy the maximum shareholding which may be offered to the market is 25%.