Kazakh Halyk says buy back price not linked to mkt

Kazakh Halyk says buy back price not linked to mktJune 29 (Reuters) – Halyk Bank (HSBKq.L) HSBK.KZ, Kazakhstan’s second-largest lender by assets, plans to buy back shares from the government at a price not linked to current market levels, its chief executive said on Tuesday.

Financials

The Kazakh state has bought a stake in the bank to help it weather the crisis. With the economy and the sector recovering, Halyk is looking to buy back the shares.

“The price will not be tied to the current market rates,” Umut Shayakhmetova told reporters on the sidelines of the Renaissance Capital investment forum in Moscow. (Reporting by Dmitry Sergeyev; Writing by Toni Vorobyova)

http://www.reuters.com/article/idUSLDE65S1I520100629

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