/KASE, December 3, 2019/ – Subsidiary Organization VTB Bank (Kazakhstan) JSC
(Almaty), whose bonds are officially listed on Kazakhstan Stock Exchange (KASE),
has provided KASE with the following press release dated November 29, 2019:
VTB Group granted a funding loan of up to 470 million Euro to the group of
companies of gold-mining sector of Kazakhstan (AK Altynalmas JSC, GMK
KAZAKHALTYN JSC, Kazakhaltyn Technology LLP, Aksu Technology LLP).
The financing was provided within initiatives of the business development
group through construction of new facilities and extension of assets base. The
funds received will be intended to purchase by AK Altynalmas JSC of
controlling interest in GMK KAZAKHALTYN JSC, realization of Aksu project
with the capacity of 5 million ton of ore per year and optimization of debt
portfolio of the company.
Besides, VTB Capital acted as a financial consultant of AK Altynalmas JSC in
purchase of controlling share in GMK KAZAKHALTYN JSC.
Aidar Kaliyev, operation leader in Central Asia, senior vice-president of VTB,
noted: "Gold-mining sector of Kazakhstan has a huge potential for development!
AK Altynalmas JSC is one of the leading companies on this market. VTB Group has
a solid experience in structuring of package deals using complex financial tools.
Implementation of this deal, including financing for the M&A purposes, refunding
of group's credit portfolio and project financing, is a successful example of
well-coordinated work of two professional teams. I am confident that our joint
efforts will result in successful development of the company AK Altynalmas JSC".
"The development strategy of our gold-mining business provides a strong growth
in the nearest time through the development of new projects, as well as extension
of the assets base through the purchase and organic growth. These plans require
diversification of funding sources and starting cooperation with such a major
player of the capital market as VTB, makes us sure even more that goals,
stipulated by the business development strategy, are achievable", - said
Chairman of the Board of Directors of AK Altynalmas JSC, Vladimir Dzhumanbayev.
"We highly appreciate the trust, vested on us by VTB Bank, and believe that our
cooperation will become an important milestone in the development of gold-
mining sector of Kazakhstan. The management has the required (for the
achievement of strategic objectives set) experience in construction and
operation of large-scale projects in gold-mining industry and we confidently
look at the tasks that face us and we are ready to realize them", - said
President – Chairman of Board of "AK Altynalmas" JSC, Diyar Kanashev.
The full press release is available on KASE website:
– in Kazakh;
– in Russian;
– in English.