×
Enjoying ad-free content?
Since July 1, 2024, we have disabled all ads to improve your reading experience.
This commitment costs us $10,000 a month. Your support can help us fill the gap.
Support us
Our journalism is banned in Russia. We need your help to keep providing you with the truth.

Kazakh IPO Seeks $200M

Kazakhstan's oil pipeline monopoly, KazTransOil, plans to raise 30 billion tenge ($199 million) via an initial public offering as part of the country's People's IPO program, a senior sovereign wealth fund official said Friday.

The government plans to invigorate the small local stock market and raise about $500 million from a first round of IPOs, which will see company stakes of 5 to 15 percent sold to retail investors and local pension funds.

KazTransOil's IPO is set to be held by the end of this year, Kuandyk Bishimbayev, deputy head of the sovereign wealth fund, Samruk-Kazyna, said.

"Some 500,000 citizens have firmly expressed their intention to take part in and support the People's IPO program," Bishimbayev said.

(Reuters)

Related articles:

… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

Once
Monthly
Annual
Continue
paiment methods
Not ready to support today?
Remind me later.

Read more