/KASE, September 30, 2021/ – Kazakhtelecom (Nur-Sultan), whose securities
are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE
with the following press release dated September 30, 2021:
quote
The Board of Directors of Kazakhtelecom JSC decided to sell the stake in Kcell
JSC and according to the Company’s management it will create additional
prerequisites to increase the shareholder value by monetizing 24% of Kcell
share. The implementation method is a sale to a wide range of investors at open
auctions on Kazakhstan Stock Exchange.
The sale of 24% Kcell JSC shares will attract long-term capital to further
develop Kazakhtelecom JSC Group of Companies, increase its market value and
profitability, create additional conditions for the investment activity of
Kazakhtelecom JSC Group of Companies, as well as partially reduce the shares
of quasi-public sector entities in the economy and have a positive impact on
Kazakhstan stock market, that should be positively perceived by the market and
society. At the same time, Kazakhtelecom JSC will retain the control over Kcell
JSC and will continue to manage Kcell JSC using majority shareholder rights,
while Kcell JSC can enjoy all the benefits of the partnership with Kazakhtelecom
JSC Group of Companies, certainly continuing to comply with all the
requirements of antimonopoly legislation.
unquote
The complete press release is available on KASE website:
-
https://kase.kz/files/emitters/KZTK/kztk_reliz_300921_1.pdf – in Russian;
-
https://kase.kz/files/emitters/KZTK/kztk_reliz_300921_eng_1.pdf – in English.
[2021-09-30]