KAZAKHSTAN SOLD 16.7% IN HALYK BANK

/IRBIS, Dec.14, 99/ - REUTERS informs, with the reference to the chairman of Halyk bank Karim Masimov, consortium Azia-Invest became a winner on closed tender on privatization of Halyk bank of Kazakhstan's portion of state block of shares and bought 16.7% of shares being sold for 1.387 bln tenge. "Portion of state block of 6,031,066 shares, which constitute 16.7% of announced authorized capital of the bank, was sold for 1.387 bln tenge, that is 230.00 tenge per share. Common share par value is 100.00 tenge", said Masimov at the press-conference. Azia-Invest consortium includes KomirBank, Almaty commercial bank and Azia-Invest company. Stake of the government in Halyk Bank went down to 50% percent plus one share from 80%. "Total portion of private investors increased up to 50% minus one share respectively, the government still has controlling stake of shares", said Masimov. The chairman informed the forth additional issue of Halyk bank shares totaling 850,464,906.00 tenge had been placed among its own shareholders and used for capitalization of the bank. Funds, raised by selling 16.7% of shares to Azia-Invest, were sent to the budget. "If the budget was in better condition today, we could convince the government to use these funds for capitalization of the bank. However, the government made such a decision", said Masimov. he added the bank needed further capitalization. Authorized capital of the bank is about 3.6 bln tenge now. Before the tender 80% of shares belonged to the government, 10% to depositors of the bank, 10% to home investor, LLP Delta.