«Samruk-Kazyna» JSC announces official launch of active phase of «People's IPO» Program
Today «Samruk-Kazyna» JSC officially confirmed «KEGOC» JSC entry into «People's IPO» at the press conference in Astana.
As part of «People's IPO» program and in accordance with the Decree of the Government dated April 30, 2014 #429 «On Amendments and Additions to the Decree of the Government of the Republic of Kazakhstan as of March 31, 2014 #280 «On approval of the Comprehensive Plan of privatization for 2014 - 2016», it is planned to place 10% minus 1 share of the total number of authorized common shares of «KEGOG» JSC. The exact number of shares, the offering price of a share and the structure of the offering will be announced just before the subscription, which is scheduled for the first half of November. The information will be published on the Kazakhstan Stock Exchange (KASE) and in the media.
It should be mentioned that successful IPO of common shares of «KazTransOil» JSC, the largest operator of oil pipelines in Kazakhstan, took place in 2012. About 60% of the transportation of the annual volume of oil production in the country falls upon the company. More than 34 thousand Kazakhstanis became shareholders. Income paid in the form of dividends exceeded 25% of the cost of shares acquisition from the date of their placement.
At the first public offering of «KEGOC» JSC priority will be given to retail investors, citizens of the Republic of Kazakhstan. Preparation to the «People's IPO» allowed to improve corporate governance, increase transparency of «KEGOC» JSC activity.
Chairman of the Management Board of «KEGOC» JSC Bakhytzhan Kazhiyev said at the press conference: “The main priorities of «KEGOC» JSC aimed at ensuring reliable operation and development of NPG Kazakhstan, ensuring growth in shareholder value, compliance with the requirements for health and safety, preservation and promotion of health workers, development of human resources.
Increasing rates of KEGOC activity are due to successful investment policy of the company. We have a favorable practice of major infrastructure projects implementation worth more than 1 billion US dollars with the participation of the world's leading financial institutions - the European Bank for Reconstruction and Development and the World Bank. The company has a clear vision of its future in a Long-term development strategy of «KEGOC» JSC until 2025, which provides implementation of the 15 priority projects for the development of NPG Kazakhstan aimed at improving its reliability and ensuring the country's energy independence.”
«Samruk-Kazyna» as the sole shareholder of «KEGOC» conducts extensive information and education campaign to explain the mechanisms of program implementation, its goals and objectives, principles of the securities market functioning.
«An important aspect of an information campaign this year will be holding open educational lectures in the regions. If the first information and education programs were designed to let people know about «People's IPO» program and its possibilities in general, in the course of this campaign, we focus on how to increase the level of financial literacy. All interested citizens of Kazakhstan will receive useful information about how the stock market works, how to earn on it and how to invest and minimize the risks,» the Deputy Chairperson of the Management Board of «Samruk-Kazyna» JSC Yelena Bakhmutova told at the press conference.
Information and education campaign designed to increase the participation of citizens in the regions will be organized in several directions:
October 14-31 - 70 open lectures (regional centers and large cities)
October 14-November 30 -400 presentations in labor collectives (large enterprises employing more than 100 people).
October 1 - November 30 - mobile agitation units and branded buses will run in regional centers, cities and districts of the Republic of Kazakhstan.
Central information resources are www.halyk-ipo.kz website and hotline (8000 8 70 15 70). The hotline is free for all regions of the country, operators are working around the clock.