Kazakhstan’s KMG sells part of shares

7 August 2015 13:28 (UTC+04:00)

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Kazakhstan's national oil and gas company “KazMunaiGas” has sold 58,420,748 common shares, the Kazakh Stock Exchange (KASE) reported.

The transaction was implemented by the British trading at KASE.

The deal amounted to 750 billion tenge (187.65 tenge = $1) at the starting price for the lot worth 749.98 billion tenge.

The auction was attended by 2 members.

Earlier it was reported that according to the government decree, Kazakh National Welfare Fund “Samruk-Kazyna”, which owns a 100 percent stake in “KazMunaiGas” would sell 10 percent plus one common share of the company to the National Bank of Kazakhstan at a price determined by an independent appraiser, but not less than 750 billion tenge.

“National Company “KazMunaiGas”” JSC is Kazakh national operator for exploration, production, refining and transportation of hydrocarbons. The JSC’s 100 percent of the shares is owned by the state.

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