Repurchase mechanism of shares of Kazakhstani issuers on global stock exchanges will be elaborated by the Ministry of economy

/INTERFAX-KAZAKHSTAN, Astana, November 2, 07/ - Repurchase mechanism of shares of Kazakhstani issuers on global stock exchanges will be determined in the plan of means for provision of stability and social and economical development of the country for 2007-2008, being elaborated by the Ministry of economy and budget planning, the deputy head of the department - Marat Kusainov informed. "Currently, the plan of top-priority means for provision of stability and social and economical development of the country for years 2007 and 2008 is being elaborated by the Ministry of economy. In this plan, all those questions will be taken into account", - he said to Interfax-Kazakhstan agency, replying to the question about the way, in which repurchases of the shares of Kazakhstani issuers circulating on global stock exchanges will be conducted. As it was announced, president of Kazakhstan Nursultan Nazarbayev charged the government and Kazyna state fund to consider the question about repurchases of the shares of Kazakhstani issuers circulating on global stock exchanges due to decreases of country's sovereign rating. Including and with this goal, it was additionally provided by the republican budget: National scientific and technological holding Samgau JSC - with KZT12.2 bn., and Fund of stable development Kazyna - with KZT122 bn. Current exchange rate is 120,93/$1. The last years, Kazakhmys, KazakhGold, Chagala Group, ShalkiyaZinc, Kazakhstan Kagazy, Exploration Production KazMunayGas, Alliance Bank, Kazkommertsbank, Halyk bank have conducted IPO on London stock exchange. [2007-11-02]