KEGOC completes the first phase of preparing for listing on the stock market


KEGOC is completing the consultant selection process to prepare for listing on the stock market. Pursuant to the programme of listing the subsidiaries and affiliates of the National Welfare Fund ‘Samruk-Kazyna’ on the stock market, KEGOC is holding a kick-off meeting with Initial Public Offering (IPO) consultants during the period 6–8 December 2011.

Leading international and domestic consultancy companies ‘Citi’, ‘Halyk Finance’, ‘Chadbourne & Parke LLP’ and ‘Deloitte’ have been selected as KEGOC consultants. Representatives of the above companies in cooperation with KEGOC management will evaluate the company’s investment attractiveness, develop an action plan, and discuss details of the preliminary Investment Memorandum.

During XIII session of the People’s Democratic Party, Nur Otan, held on 11 February 2011, Nursultan Nazarbayev, the President of the Republic of Kazakhstan, ordered the development of the programme to list the national companies on the stock market. On 8 September 2011 a Resolution of the Kazakhstan Government approved the programme in accordance with which KEGOC was selected as a candidate for the People’s IPO. The main objectives of the programme are to give the people of Kazakhstan the possibility to purchase shares in leading national companies, to develop the Kazakhstan stock market and to increase the transparency, effectiveness and compatibility of the largest national companies in Kazakhstan.