The head of National bank does not predict mass coming out of Kazakhstan companies to IPO market

/INTERFAX-KAZAKHSTAN, Almaty, July 12, 06/ - Chairman of National bank Anvar Saydenov does not expect mass IPO conducting by Kazakhstan companies on foreign market. "Coming out to IPO market can be dimensioned if, let say, Exploring Mining KazMunayGas (producing "daughter of oil company KazMunayGas " - "IF-K") will appear on IPO by the end of this year, but, possibly, there will be several enterprises more," - he said at press conference in Almaty on Wednesday. In opinion of A. Saydenov, in general, "fashion on offering of shares of enterprises from countries with developing economy on alternative stock exchange in London is over. By his words, it connects to the following that after offering shares on Western funds floors, companies meet necessity on regular basis to convey a big volume of information to investors. "Any offering on Western markets implies very high level of corporate managing and very high level reporting in front of investors, who purchased shares of these enterprises," - added the head of National bank. Moreover, A. Saydenov considers that increasing of number of local companies, accomplished initial shares offering, will not bring with it correction of existent money-credit policy. As it was informed, currently two Kazakhstan companies conducted IPO on Western markets: copper corporation Kazakhmys and KazakhGold - mother company of Processing and smelting concern Kazakhaltyn JSC. As it is known, the decision on IPO conducting by Exploring Mining KazMunayGas was taken and at present the opportunity of initial shares offering abroad is considered by range of big companies of the republic, air company Air Astana and merged processing and smelting company, which is in establishing process and will include enterprises of Eurasian manufactory association. [2006-07-12]