KazMunayGas promises to open details of impending IPO after September 10

/INTERFAX-KAZAKHSTAN, Astana, September 6, 06/ - Kazakhstan national oil and gas company KazMunayGas promises to open details of impending IPO after September 10. "Today we have a period of silence. By the agreement terms we do not have right to disclose anything. We have some obligations. After September 10 the terms of silence are expiring, and after that we will widely advertise our activity connected with entering on IPO", - first vice president of the national company Zhaksybek Kulekeyev told to journalists in lobby of I Euraasian energy forum KazEnergy Oil and gas branch and energy on Wednesday in Astana. He reminded that the goal of IPO is "form the one side, supporting of fund market of Kazakhstan, and form the other - "through this operation we intend to attract investments to our company", at this he added that KazMunayGas has great investments' plans. He also infirmed that part of shares of the company in the frames of future IPO will be sold to the population. "We are planning that shares of our company will be purchased by Kazakhstan citizens", - he told. As it was informed, KazMunayGas is planning to make IPO of its extracting "daughter" - Exploration Extraction KazMunayGas on Kazakhstan and London exchanges. Company will distribute its new shares on Kazakhstan stock exchange (KASE) and also global depository receipts for new shares on London stock exchange (LSE). After distribution KazMunayGas as it is waited will left not less than 60% shares of Exploration Extraction KazMunayGas. In the frames of preparing to IPO shareholders of Exploration Extraction KazMunayGas at the yearly meeting on August 28 had chose three independent members of Council of Directors: Christopher MacKenzie, Paul Manduca and Eddie Walshe. [2006-09-06]