The range of price for selling among population share of Kazakhtelecom will be announced in the beginning of December-Samruk

/INTERFAX-KAZAKHSTAN, Almaty, November 9, 06/ - Range of price for shares of Kazakhtelecom JSC, which will be sold among the population of Kazakhstan, will be proclaimed in the beginning of December of the current year, informed the Kazakhstan holding of state assets management Samruk JSC. As it is known in accordance with the resolution of Kazakhstan government dated October 17, 2006 was accepted the decision about selling on the internal market of republic of 4.6% of voting shares of Kazakhtelecom JSC, belonging to Samruk. "The price range and other terms of selling will be public announced in the beginning of December of 2006, after that during from 7 to 14 days will be conducting the acceptance of applications form the population", - is noted in the spread on Thursday message of the press-service of the state holding. "After this term expires, will be conducted the cut-off the bids, not corresponding to the requirements of price and quality limits, set for selling of shares. With interested persons, provided the optimal suggestions in the limits of set indicators, will be signed the contracts of shares' purchase and sale", - is noted in the press-release. There is informed in it that "the price range of the real selling will be determined on the basis of the current market price with the consideration of suggestions of the financial consultant". For selling are proposing 497597 copies of common name shares of Kazakhtelecom, which totals 4.6% form the total amount of voting shares of this company. At that the ace value of one share totals KZT1000 (current 127.89/$1). According to the press-release, "the average market price of one share of Kazakhtelecom by the results of Kazakhstan stock exchange (KASE) in October of the current year totaled KZT29 th.". As it is known the shares of Kazakhtelecom are included into KASE's category "A" official listing. In the press-release it is stressing that selling of this shareholding is planning to make among the population of Kazakhstan "by signing for shares among unlimited number of investors". "The special attention will be given to the questions of clarity of the process of selling and availability of participation in it of all strata of the population, including rural. With the same objective it I possible the introducing of limitations on amount of shares, selling to on hands", - is noted in the press-release. "For determination of the objective market price and optimal conditions of selling of shares, and also for development of needed regulatory documents, - is informed in the press-release, - by the Holding Samruk JSC will be attracted the financial and juridical consultants Except that, is noted in the message, "the immediate procedures of acceptance of applications from population, dealing with buyers of shares and registration of their rights will be organized with the usage of services of transfer-agent - professional participant of the market o securities, having the right on acceptance, account and registration of documents form their clients". As it follows from the press-release, such transfer-agent can become Kazpochta JSC (in the composition of Samruk), having the most branchy representation network on the market of transfer-agent's services - more then 190 centers on the whole territory of the republic, including oblast and regional centers. As it is known the president of republic Nursultan Nazarbayev had charged the government to examine the ability of stimulating the selling on the internal market part of shares of national companies for stimulating the native exchange's market. The head of the state had announced that not any from the compositions of government managed to create the full-value functioning market of securities. Kazakhtelecom is the leading operator of connection in Kazakhstan, taking the dominating position on the native market of telecommunications Shareholders with the stake of owing of shareholdings of common shares of Kazakhtelecom JSC as of July 1 are Samruk (55.6%), BODAM B.V. (16.9%), The Bank of New York (10.2%), Сentral Аsian Industrial Holdings N.V. (9.6%). As earlier had announced the executive director of Samruk JSC Sauat Mynbayev, in the frames of liberalization of telecommunication branch of Kazakhstan the state can reduce its shareholding in Kazakhtelecom JSC till 25% + 1 share. At that at the initial stage it is supposed to sell to 5% of shares, on the second - leading of state shareholding to 25% + 1 share. In the management of state holding Samruk, created by the decree of the head of the state in January of this year at the present time there are state stakes of 5 companies, except Kazakhtelecom: Kazpochta JSC, company of management of electric networks KEGOC JSC, oil and gas company NC KazMunayGas JSC and railway company Kazakhstan temir joly JSC (KTJ). "Kazpochta, KazMunayGas and KTJ are wholly state companies. Except this, according to the resolution of the government dated October 24, to the state holding have to be delivered the state shares of 17 companies more, including the strategic branches of economics, in particular, Kazakhstan - British Joint Venture Air Astana (state shareholding 51%). [2006-11-09]