/Research and information portal of JSC National Welfare Fund "Samruk-Kazyna"-
October 29,12/ - Today at the meeting of Board of Directors JSC
"Samruk-Kazyna" were discussed issues regarding price, quantity and placement
structure of common stocks of first company, going public under the Program
"People's IPO", JSC "KazTransOil".
Following results of Board of Directors meeting a decision was made, that the
price of one common stock of JSC "KazTransOil" will be equal to KZT725.The price
was formed on the basis of recommendations provided by consultants from
international company UBS and JSC "Kazkommerts Securities", which fully
appraised the value of the company. The number of placed shares is approved at
the level 10% minus 1 share from the total number of authorized common stocks of
the company, which makes up 38,463,599 common stocks.
In accordance with approved structure for placement of shares of JSC
"KazTransOil" it is assumed that orders of the market maker will satisfied in the
first place for the purpose of ensuring maintaining of quotations for purchase and
sale of shares. Among investors, the priority will be given to retail investors -
citizens of Republic of Kazakhstan, thereafter orders of National Pension Funds
will be satisfied.
In addition, the number of shares available for purchase by retail investors
within the scope of first placement of shares of JSC "KazTransOil" would be
limited - orders of retail investors will be satisfied in whole within the limits
of 7 million tenge. Besides, the structure provides mechanism of proportional
satisfaction of orders, in case demand exceeds supply.
The starting date of IPO is approved with account of validity period of inspection
results of financial records of JSC "KazTransOil" for the 1st half year 2012, in
accordance with the following schedule:
- Order Book opening - from 6 November,2012;
- Order Book closing - till 5 December,2012;
- Performing settlements - till 14 December, 2012.
The maximum size of offering with account of quantity and offering price of shares
approved by the Board of Directors of JSC "Samruk-Kazyna" will be approximately
28 bn tenge ($186 mln.)
Within the frame of execution of instruction of President of RK N.A. Nazarbayev,
the government of RK has developed the Program on offering of stocks of
subsidiaries and related organizations of JSC "Samruk-Kazyna" in the securities
Program "People's IPO" is supposed to run till 2015 and provides staged placement
of shares to the stock market of major stable government companies. JSC
"KazTransOil" goes first for "National IPO" in 2012 . Then in 2013 JSC "KEGOC",
JSC "Air Astana", JSC "NMSK "Kazmortransflot", JSC "Samruk-Energy" and JSC
"KazTransGas" will follow. In 2014 - 2015 IPO will be conducted by JSC "NC
"Kazakhstan temir zholy ",JSC "Kaztemirtrans", JSC "Kazatomprom", JSC
Program "National IPO" provides a right to purchase stocks only to citizens of
Republic of Kazakhstan, as well as to Kazakhstan's Accumulative pension funds
representing their interests.