The Government of Kazakhstan to repurchase shares of 4 banks at the market price as on October 24, 2008

/REUTERS, Astana, Raushan Nurshaeva, November 11, 08/ - The government of Kazakhstan intends to repurchase shares of the four largest banks - Alliance Bank, BTA, Halyk and Kazkommertsbank - at the market price, Kairat Kelimbetov, the head of the state fund SamrukKazyna said on Tuesday. "The price of shares will be determined by their market value on October 24 by quotes of London Stock Exchange for Kazkommertsbank, Alliance Bank and Halyk Bank and by quotes of Kazakhstan Stock Exchange for the BTA" - Kelimbetov said. According to him, the authorities intend to redeem shares of Alliance Bank for the amount not less than $370 m., Halyk Bnak - $500 m., Kazkommertsbank - $300 m., BTA - $2.3 bn. [2008-11-11]