TuranAlem Bank (Kazakhstan) will sell 25% shares to foreign investors

/Almaty bureau REUTERS, Dec 6, 01/ - The second on assets size Kazakhstan's bank TuranAlem will sell 25 percent shares to five international investors, among which there are European Bank for Reconstruction and Development and International Financial corporation, the press service of the bank informed. "This is a first international offer to increase capital in Kazakhstan which will allow substantially raise the attractiveness of bank assets within the country", is said in the information. Bank didn't inform any other details until the contract signing, which is expected on December 14. Assets of TuranAlem Bank as of October 2001 reached KZT135.97bn (about $900m), net income - KZT1.93bn, authorized capital - KZT12.87bn.