Pavlodarenergo JSC plans IPO on Kazakhstan stock market, borrows the bonds' loan

/INTERFAX-KAZAKHSTAN, Almaty, November 27, 07/ - Pavlodarenergo JSC, providing Pavlodar and Pavlodar region (on the north) of Kazakhstan with electric and heat energy, plans IPO on Kazakhstan stock market, the president of Central-Asian fuel-energy company JSC (owner of Pavlodarenergo JSC) Gulnara Artambayeva informed. "After coordination of necessary procedures we are also planning to lead shares of Pavlodarenergo to free selling. We are planning the local IPO (in Kazakhstan - IF-K). About 25% shares we may lead to free float", - she told to journalists on Tuesday in Almaty. At that she did not exclude in perspective the possibility of IPO holding by Central-Asian fuel-energy company JSC (CAFEC). "We are thinking about this IPO yet", - G.Artambayeva told. Meanwhile, she told, was accepted the decision about issue of bonds of CAFEC on local stock market. "We want to enter the stock market with bonds' loan for development of new productions and for widening of presence in energy sector. Now we are preparing documents for registration. I think, that till the end of year we'll submit them for registration and in year 2008 we'll enter the stock market", - the head of CAFEC told. Along with it, she informed that till the end of current year it is planning to start the offering of debut issue of bonds of Pavlodarenergo JSC on special trade floor of regional financial center of Almaty (STF RFCA). These securities are already included to the listing of STF RFCA. The financial consultant of the company is BCC Securities LLP (daughter organization of Bank CenterCredit). Volume of issue of 10-years' bonds makes KZT8 bn. (current 120.42/$1), face value - KZT100 per paper, interest rate - 9% APR for the first year of circulating (further - floating, depending on inflation rate). Borrowed funds after offering of bonds will be directed for development of the investment program of Pavlodarenergo, estimated till year 2013. The given program had passed the coordination in Ministry of energy and mineral recourses and is foreseen the reconstruction and modernization of company's objects. "Realization of this program will let us to increase the effectiveness of the company Pavlodarenergo, to increase its stated power and hence, the issue of electro and heat energy", - she told. Pavlodarenergo JSC deals with production and distribution of heat and electric energy in Pavlodar and Pavlodar region. In year 2006 by the company was developed 2.504 bn. kWt/h of electric energy, 2.554 m. Gcal. of heat energy. In year 2007 it is expected the growth of physical volumes of production of heat and electric energy in average by 4-4.5%. Forecasted income from selling of products (services) by results of year 2007 will make KZT13.2 bn. [2007-11-28]