Kenges Rakishev Increases Shareholding In Kazkommertsbank

Betted On Kazakhstan’s Largest – And Cheapest – Bank

Astana. – Kazkommertsbank (the “Bank” or “KKB”) notifies on major shareholder Mr. Kenges Rakishev having purchased common shares held by JSC «Qazaq Financial Group», Mr. Nurzhan Subkhanberdin and JSC «Central-Asian investment company» (CAIC).

Subject to the terms of the Framework Agreement entered into by the Government of the Republic of Kazakhstan (represented by the Ministry of Finance of the Republic of Kazakhstan), JSC “National Welfare Funds “Samruk Kazyna”, JSC «Problem Assets Fund”, JSC “BTA Bank”, KKB, Mr. Rakishev and JSC “Halyk Bank Kazakhstan” («Halyk Bank») on 02 June 2017, as well as the Sale and Purchase Agreement on purchase of 86.09 per cent of common shares of KKB signed by Halyk Bank and Mr. Kenges Rakishev on 15 June 2017, Mr. Rakishev has acquired the following shares:

§ 70 074 945 common shares of KKB held by CAIC;

§ 47 800 962 common shares of KKB held by Nurzhan Subkhanberdin;

§ 223 922 790 common shares represented both by common stock and depository receipts held by JSC «Qazaq Financial Group».

The above-mentioned transactions resulted into direct shareholding of Mr. Rakishev having increased from 43.23% to 86.09%. JSC «Qazaq Financial Group», Mr. Nurzhan Subkhanberdin and CAIC ceased to be shareholders of the Bank.

About Kazkommertsbank

Kazkommertsbank (KKB) is one of the largest banks in Kazakhstan and Central Asia with total assets of KZT 4,866 billion at 31 December 2016.

In addition to its core banking business (retail and corporate) KKB has subsidiaries active in pension fund management, asset management, insurance and brokerage. KKB also has foreign subsidiaries in the Russian Federation, Kyrgyzstan and Tajikistan.

Earlier major shareholders of Kazkommertsbank included Mr. Kenges Rakishev, Central Asian Investment Company and Mr. Nurzhan Subkhanberdin, Qazaq Financial Group, the Kazakh Government through the Samruk-Kazyna National Welfare Fund. KKB’s predecessor, Medeu Bank, was founded in July 1990, and re-registered as Kazkommertsbank in October 1991. KKB completed an IPO in GDR form on the London Stock Exchange in November 2006, the first CIS bank to do so, in a deal totalling US$845 million. The Bank’s shares are listed on the Kazakhstan Stock Exchange.