In the state assets management holding Samruk it is waiting for IPO of oil-extarcting "daughter"of KazMunayGas in autumn of this year on LSE and KASE

/INTERFAX-KAZAKHSTAN, Almaty, August 12, 06/ - In the state holding of state assets management Samruk it is waiting for IPO of Exploring Extraction KazMunayGas JSC (extracting "daughter" of national oil and gas company KazMunayGas) in autumn of the current year on London and Kazakhstan stock exchanges. "On Exploring Extraction KazMunayGas the corresponding great work is done and we are waiting for placement on London stock exchange this autumn (...) and on the internal stock market." - acting chairman of Samruk holding Sauat Mynbayev said on the visiting session of economic policy Council on Saturday in Almaty. "The principle decision is accepted" - he added. Earlier the first vice-president of KazMunayGas Jaksybek Kulekeyev had announced that in the frames of IPO it can be offered about to 40% of shares of oil extracting "daughter" of the company. Exploring Extraction KaxMunayGas was created in March 2004 as a result of joining together the daugter companies of KazMunayGas - Embamunaygas and Uzenmunaygas. Meanwhile, S Mynbayev informed that currently "the work over the program of state assets management is completed in the Government". "One of the key moments of this program is the answer to the question: what is strategic state assets, which are not subjected to privatization?" - he noted. "As we understand, this position will include, for example, infrastructure objects, in particular, for example, trunk railway network, KEGOC networks (national company of Kazakhstan of electricity networks management), objects of KazTransOil (oil-transport "daughter" of KazMunayGas)" - said the head of Samruk. "If these positions will be accepted in such interpretation, so, potential issuers, objects of stock market, are other objects, included in Samruk" - he noted. Among such "potential issuers" he named Exploration Extraction KazMunayGas JSC and Kazjeldortrans JSC (on 100% belongs to national railway company Kazakhstan Temir Joly, KTJ). Decree about creation of holding Samruk the President of Kazakhstan Nursultan Nazarbayev had signed at the end of January of this year. Government had determined five companies, state stakes of which at the first stage will be passed to holding: Kazpochta JSC, KEGOC JSC, Kazakhtelecom JSC, KazMunayGas and KTJ. [2006-08-14]