Kazakhtelecom JSC works over the issues of conducting IPO on the international floor - head of the company

/INTERFAX-KAZAKHSTAN, Almaty, December 21, 06/ - The leading communication statement of Kazakhstan Kazakhtelecom JSC works over the issues of the initial public offering of shares (IPO) on the international floor. "We conduct the study of all questions (connected with carrying out IPO. - IF-K)," informed Askar Zhumagaliyev, the president of Kazakhtelecom JSC, at a press conference on Thursday in Almaty, while answering the question of the agency Interfax-Kazakhstan. According to his words, the size of holding for offering will be announced later. Kazakhtelecom firstly needs the fulfillment of all international standards (made to the company, coming out at IPO - IF-K), forming of high-capacity personnel, forming of a service of risk management. That is to say, these preparatory actions are conducted," he said. "It is necessary to carry out measures on increasing our capitalization so that, if come out (at IPO - IF-K), to talk about serious funds on borrowing," stressed A. Zhumagaliyev. Kazakhtelecom is the leading communication statement in Kazakhstan, which takes the dominating position at the domestic telecommunication market. Shareholders with ownership ratio of common shareholding of Kazakhtelecom JSC are the state holding Samruk (55.6%), BODAM B.V. (16.9%), The Bank of New York (10.2%) and Сentral Аsian Industrial Holdings N.V. (9.6%). As it was reported, Samruk completed the subscription for common state shares of Kazakhtelecom, which are marketed among the population. In accordance with the resolution of the government dated October 17, 2006 a decision was adopted about sale of 4.6% of common voting state shares of Kazakhtelecom - in all 497597 items, at the domestic market of the republic. 90% of this shareholding (447837 shares) is assigned for sale to the public, and the rest (49760 shares) will be sold later at an organized (exchange) market. Price range of marketed shares was fixed at KZT25-33 th., bids for purchase were admitted from November 30 to October 10 in departments of Kazpost JSC throughout the republic from an unlimited number of individual people. Investment financial house Resmi JSC acted as the financial consultant of the state holding Samruk at the offering of given shares. Shares of Kazakhtelecom JSC have been included in Kazakhstan stock exchange' (KASE) official "А" listing category. Kazakhtelecom is the leading operator of Kazakhstan, which takes the dominating position at the domestic telecommunication market. Board of the state holding Samruk, established by the order of the head of the state in January of this year, currently has state shares of five companies: Kazakhtelecom, Kazpost JSC, companies on managing electric networks KEGOC JSC, oil and gas company NC KazMunayGas JSC and the railway company Kazakhstan temir zholy JSC (KTZh). Kazpost, KEGOC, KazMunayGas and KTZh are completely state companies. Besides, according to the resolution of the government dated October 24, state shares of 17 more companies must be transferred to the state holding, including strategic fields of economy, in particular, Kazakhstan-British JV Air-Astana (state-owned shareholding 51%). [2006-12-21]