Samruk-Kazyna Fund completes purchase of Halyk Banks preference shares

Visor Capital

June 8, 2009

On 29 May 2009, Halyk Bank sold 196,232,499 preference shares, raising KZT33bn (US$220m). We do not expect any significant impact for the bonds or shares of the Bank because the news is in line with previous announcements.

According to Halyk Bank (HSBK KZ)(HSBKp KZ)(HSBKp1 KZ)(HSBK LI), on 29 May 2009, the State s Samruk-Kazyna Fund bought 196,232,499 of the Bank s preference shares at KZT168.4 per share for a total of KZT33bn (US$220m). As a result, the Bank closed the second part of its capitalisation deal with the Government. Following the transaction, the Bank noted that its regulatory capital had increased by 26% since the beginning of the year.

SK also currently holds a 20.91% stake in the ordinary shares of Halyk Bank. The parent company of the Bank, Holding Group ALMEX JSC, retains control over the Bank with 54.1% of the Bank’s ordinary shares.

We do not expect any significant impact for the bonds or shares of the Bank because the news is in line with previous announcements.

http://www.businessneweurope.eu/dispatch8814/Eurasia_daily
_Mon_8_Jun#115184

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