Kazakh pension funds to buy two-thirds of KazTransOil shares
Kazakhstan's pension funds are willing to buy two-thirds of KazTransOil shares, the head of the Samruk-Kazyna National Welfare Fund (NWF) Umirzak Shukeyev said on Tuesday at a governmental meeting.
"According to the preliminary analysis, the pension funds are ready to buy two-thirds of the maximum offer at a price of 700-750 tenge per one KazTransOil share," Shukeyev said.
As for retail investors, who can only be citizens of Kazakhstan, their applications will be submitted at the price up to seven million tenge ($1 -150 tenge), he said.
Following the meeting of the Samruk Kazyna board of directors, it was decided that the price of one ordinary KazTransOil share of will be 725 tenge (150.68 tenge = $1).
The price has been formed on the advice of international advisers from UBS and Kazkommerts Securities companies which have fully estimated the cost of the company.
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