Not for publication, distribution or release directly or indirectly, in whole or in part, in or into the united states, australia, canada, japan or any other jurisdiction in which offers or sales would be prohibited by law
THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED TO CONSTITUTE INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) NO. 596/2014. UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN
PLACING OF 9,863,021 GLOBAL DEPOSITARY RECEIPTS REPRESENTING INTERESTS IN ORDINARY SHARES OF JOINT-STOCK COMPANY “NATIONAL ATOMIC COMPANY “KAZATOMPROM” (THE “COMPANY”) BY JOINT-STOCK COMPANY “SOVEREIGN WEALTH FUND “SAMRUK-KAZYNA”
26 September 2019
Further to the announcement released on 25 September 2019 in relation to an offering of global depositary receipts representing interests in ordinary shares of the Company by way of an accelerated bookbuild through the London Stock Exchange (the “LSE”) pursuant to the rules and regulations of the LSE (the “LSE Placing”) and the Astana International Exchange (the “AIX”) pursuant to the rules and regulations of the AIX (the “AIX Placing”, and together with the LSE Placing, the “Placing”), Joint-Stock Company “Sovereign Wealth Fund “Samruk-Kazyna” (“Samruk-Kazyna”), announces the results of the Placing. Accordingly pursuant to the Placing, Samruk-Kazyna has sold an aggregate of 9,863,021 global depositary receipts representing interests in ordinary shares of the Company (1 global depository receipt (LSE trading symbol “KAP LI” and AIX trading symbol “KAP.Y”) = 1 ordinary share) (the “Placing Securities”) at a price of USD 13.00 per global depositary receipt, raising aggregate gross sale proceeds of USD 128,219,273, including USD 65,299,273 of gross sale proceeds through the AIX. Of the 9,863,021 aggregate amount of GDRs sold in the Placing, 6,500,000 were purchased by international investors and 3,363,021 were purchased by domestic investors.
5,023,021 GDRs were placed through the AIX, of which 1,660,000 GDRs were placed to international investors and 3,363,021 GDR were placed to domestic investors, thereby satisfying domestic demand in full.
The offering was made to institutional investors outside the US in accordance with Regulation S of the US Securities Act of 1933, as amended (the “US Securities Act”) and to qualified institutional buyers in the US in accordance with Rule 144A of the US Securities Act. In addition, at least 20% of the total number of Placing Securities were offered to institutional and retail investors on Kazakhstan’s domestic market through the AIX Placing.
Prior to the Placing Samruk-Kazyna owned approximately 85 per cent of the Company's issued share capital and following the completion of the Placing Samruk-Kazyna will own approximately 81.2 per cent of the Company’s issued share capital. Any of the Company's shares and global depositary receipts held by Samruk-Kazyna which are not sold in the Placing will be subject to a 180-day lock-up, subject to customary exceptions.
The proceeds of the Placing are payable in cash on usual settlement terms, and closing of the Placing is expected to occur on 30 September 2019.
J.P. Morgan Securities plc is acting as a sole global coordinator for the Placing and joint bookrunner in connection with the LSE Placing (the “Global Coordinator”), Subsidiary organization of Halyk Bank Kazakhstan “Halyk Finance” JSC is acting as coordinator of the AIX Placing and joint bookrunner of the AIX Placing, and Renaissance Capital is acting as joint bookrunner for the LSE Placing and the joint bookrunner for the AIX Placing, all of whom are responsible for arranging the offering for both international and domestic investors (collectively with the Global Coordinator, the “Global Coordinator and Bookrunners”).
The Placing is a part of the Complex Privatisation Plan for 2016-2020, as approved by the Government of the Republic of Kazakhstan, under which the Company was identified as a portfolio company of Samruk-Kazyna to be partially privitased. It was further resolved by the Government of the Republic of Kazakhstan to dispose of up to 25% of the share capital of the Company. Following this, Samruk-Kazyna offered and sold Shares and GDRs representing in aggregate 15% of the Company’s share capital in an initial public offering in November 2018, pursuant to which its GDRs were admitted to the Official List of the UK Financial Conduct Authority and to trading on both the LSE and the AIX. Samruk-Kazyna now sold additional GDRs pursuant to the Placing. The Placing was aimed at increasing the liquidity of the Company’s securities.
The Company will not receive any proceeds from the Placing.