Kazakh companies eye IPOs for $5 bn - the Business

/INTERFAX-KAZAKHSTAN, London, March 11, 05/ - Three major Kazakh industrials Kazakhmys, Kazakhaltyn and Kazmunaigas target initial public offerings at London Stock Exchange this year for a total $5 bn, the British Business newspaper writes. As expected, Kazakhmys, major copper producer, is expected to place 25% of its shares first and has already hired Enrst&Young for transaction support services. The company is expected to produce 460 th tons of copper this year. According to the newspaper, Deloitte advising Kazakhaltyn, major gold producer, on IPO techniques. National Company KazMunaiGas holds bids among consults currently. According to bankers, Kazakhmys and KazMunaiGas may be included in FTSE 100. As Russia's political situation worsens, Kazakhstan becomes more attractive for western investors. [2005-03-11]