New companies to join Kazakhstan’s ‘People's IPO’ program by year-end
Two or three companies will join to the 'People's IPO' program in Kazakhstan by the end of the year, Kazakh Deputy Prime Minister Kairat Kelimbetov said at a press conference in Astana on Monday.
He said the next stage of the program will begin in the second quarter of 2013 by selling KEGOC's shares. It is planned to auction the shares of KazTransGas and Samruk-Energo within the program in the final quarter of this year.
"Samruk-Energo's shares will be put up for sale if the concept of developing the Kazakh energy sector is completed on schedule," Kelimbetov said.
KEGOC's authorised capital is 106.8 billion tenge. The company's revenues in 2012 hit 71.674 million tenge leaving a net profit of 6.941 million tenge.
KEGOC is the Kazakh power system operator. The company's authorised capital amounts to 106.8 billion tenge. It is currently implementing projects to develop the Kazakh national energy network to the sum of 97 billion tenge.
The 'People's IPO' program will allow Kazakh citizens to become co-owners of one of the nation's largest companies. The program's period covers 2012-2015.
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