Alliance-bank (Kazakhstan) will invite ING and Renaissance Capital to issue GDR - source

/REUTERS, London, Almaty, January 4, 06/ - Kazakhstan Alliance-bank plans to make bank ING and brokerage firm Renaissance Capital lead- managers of debut global depositary receipts issue for the amount over $100 m., which will be floated at London stock exchange, knowledgeable source informed on Wednesday. Representative of Alliance-bank announced, that firms while are not hired. "We plan IPO in the first half of 2006, however no agreements are signed", - he said. According to the representative, shareholders should approve listing, before further steps can be taken. ING and Renaissance Capital while have not given comments. Alliance - the fifth biggest bank of Kazakhstan. Its assets by the results of the first half of 2005 equaled to $1.6 bn., equity capital - $122.8 bn. [2006-01-04]