Kazakhstan Electricity Grid Operating Company (KEGOC) was established in accordance with Decree No.1188 of the Government of Kazakhstan dated 28 September 1996 ‘On some measures to restructure power system management in Kazakhstan'.
The date of initial public registration of KEGOC is 11 July 1997.
The Government of the Republic of Kazakhstan is the founder of KEGOC. In accordance with the resolution of the Government of the Republic of Kazakhstan No. 117 dated 2003 2006 titled: "On measures to implement the Decree of the President of the Republic of Kazakhstan No. 50 dated 28 January 2006", the Government’s stock shares of KEGOC was transferred as payment for the placed shares of Samruk Kazakhstan Holding Company for Management and state.
Samruk-Kazyna Sovereign Wealth Fund was established through a merger of Kazyna Sustainable Development Fund and Samruk Kazakhstan Holding Company on Management of the State Assets in accordance with Decree No. 669 dated 13 October 2008 of the President of the Republic of Kazakhstan 'On certain measures to ensure competitiveness and sustainability of the national economy' and Resolution No. 962 dated 17 October 2008 of the Government of the Republic of Kazakhstan 'On measures to implement Decree No. 669 dated 13 October 2008 of the President of the Republic of Kazakhstan.
Samruk-Kazyna Sovereign Wealth Fund was established to improve the competitiveness and stability of the national economy and to pro-actively address possible negative impact of changes in world markets on the economic growth in Kazakhstan.
The main goal of the Fund is to manage the shares (participation interest) in national development institutions, national companies and other legal entities in to maximize their long-term value and increase competitiveness in world markets.
On 18 December 2014 under the Programme for public offering of shares of branches and affiliates of Samruk-Kazyna Sovereign Wealth Fund on the stock market (approved by Resolution No. 1027 of the Government of Kazakhstan dated 8 September 2011 and hereinafter referred to as People's IPO Programme), KEGOC conducted an initial public offering of ordinary shares of the Company on the Kazakhstan stock market through subscription.
The number of the ordinary shares of KEGOC floating on the Kazakhstan securities market is twenty-five million nine hundred and ninety-nine thousand nine hundred and ninety-nine (25,999,999) shares. The price of one ordinary share of KEGOC was five hundred and five (505) tenge.
After the offering of KEGOC shares on Kazakhstan stock market under People’s IPO' programme, Samruk-Kazyna owns 90% plus one KEGOC share, the remaining 10% minus one share belong to minority shareholders.
More info: www.samruk-kazyna.kz