State fund Samruk can sell 25% state shareholding of Maykainzoloto within the frameworks of IPO

/INTERFAX-KAZAKHSTAN, Astana, February 13, 07/ - Kazakhstan holding for state asset management Samruk JSC in the current year can conduct the initial public offering of shares of Maykainzoloto, having sold 25% state shareholding of the company. "Out of the second echelon of companies, which were passed in the holding, there are evident pretenders for IPO, in particular, Maykainzoloto. It is possible that IPO will take place this year," said Sauat Mynbayev, the head of the holding, at the press briefing after the expanded government meeting on Tuesday in Astana. He reminded that Samruk in accordance with the government resolution received the 25% state shareholding Maykainzoloto. "It turns out that we in essence cannot influence upon management processes of the given company. We cannot still claim to the membership in the Board of directors," he explained, adding, "such kind of assets must supplement the list of issuers in the stock market". As it was reported, in accordance with the government resolution, the order of the ministry of economy and budget planning and the state property and privatization committee of the ministry of finance Kazakhstan holding for state asset management received state-owned stocks of 14 more enterprises. Thus, besides securities of Maykainzoloto in the management of the holding Samruk state-owned stock of the following joint-stock companies were passed: National company Kazakhstan engineering (100%), National sea shipping company Kazmortransflot (50%), Air Astana (51%), Shulbinsk HES (92.13%), Ust-Kamenogorsk hydroelectric station (89.99%), Mangistau distributive electricity supply network company (94.25%), Bukhtarma hydroelectric station (90%), Kazakh research energy institute named after S. Chokin (50%), KazKuat (100%), Ekibastuz energy center (100%), Kazakhstan operator of electric energy and capacity market (100%), Airport Pavlodar (100%) and International airport Aktobe (100%). The sole shareholder of the holding Samruk is the state in the person of the ministry of economiy and budget planning of the republic. The state holding Samruk was founded by the order of the head of the state in January of last year. At the first stage the holding received state-owned stocks of five companies: Kazakhtelecom, Kazpost JSC, company for electric network management KEGOC JSC, oil and gas company NC KazMunayGas JSC and the railway company Kazakhstan temir zholy JSC (KTZ). [2007-02-13]