/REUTERS, Almaty, Olzhas Auezov, February 27, 07/ - Kazakhstan gold- mining company KazakhGold plans to offer an additional issue of shares on London stock exchange (LSE) to finance expenditures on production development, said Aydar Asaubayev, the company's vice-president, at the investment conference.

According to him, the company intends to spend $350 m. on the development of its main mines in 2007-2008, out of which $200 m. it has already borrowed in the debt market.

"For 50 percent of the remaining amount we plan to offer an additional issue and attract financing from the stock market of the London stock exchange," said Asaubayev.

He refused to inform exactly when the offering will take place.

KazakhGold, which has offered 254 percent of shares in London, is the founder of the gold-mining company Kazakhaltyn, which is among the three largest gold-mining companies in Kazakhstan.

[2007-02-27]