Kazakh IPO Seeks $200M

Oct 14, 2012 — 23:00
Oct 14, 2012 — 23:00

Kazakhstan's oil pipeline monopoly, KazTransOil, plans to raise 30 billion tenge ($199 million) via an initial public offering as part of the country's People's IPO program, a senior sovereign wealth fund official said Friday.

The government plans to invigorate the small local stock market and raise about $500 million from a first round of IPOs, which will see company stakes of 5 to 15 percent sold to retail investors and local pension funds.

KazTransOil's IPO is set to be held by the end of this year, Kuandyk Bishimbayev, deputy head of the sovereign wealth fund, Samruk-Kazyna, said.

"Some 500,000 citizens have firmly expressed their intention to take part in and support the People's IPO program," Bishimbayev said.

(Reuters)

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