Kazakh President Nursultan Nazarbayev ordered the realization of the
national IPO program until 2011, he said at a session of the ruling
Nur Otan party, RIA Novosti reports.
Shares of Samruk-Energy, KEGOK, and Kazakh Post Service should be
allocated until the end of the year. Then shares of national companies
Kazmunaygaz (Oil and Gas of Kazakhstan), Kazakh Railways) and Kazakh
Car Industry should be placed at stock markets in 2012-2013.
The national IPO program will allow hundreds of thousand Kazakh
citizens to purchase shares in major companies and increase their
wealth, the president said.
Kayrat Kelimbetov, head of the Kazakh national welfare fund
"Samruk-Kazyn" said that the fund does not plan to have assets of its
subsidiaries on stock markets in the coming 2 years. He clarified that
the asset price and the loan conditions are not very attractive.
Prime Minister Karim Massimov ordered the council for economic policy
to introduce proposals on the national IPO program.
