Kazakhstan's Samruk-Kazyna delays QazaqGaz IPO to enhance investment appeal

ALMATY. Dec 11 (Interfax) - Kazakhstan's Samruk-Kazyna state fund will delay the initial public offering for national gas company QazaqGaz, initially planned for 2025, due to the need to enhance the company's investment appeal.

"Under Government Resolution No. 908, the QazaqGaz IPO is scheduled for 2025. However, given the need to create attractive investment opportunities, the timing appears premature. The company's current and forecast financial and operational performance does not fully meet the criteria of an asset with investment appeal for a successful IPO," the fund told Interfax.

In light of this, Samruk-Kazyna and QazaqGaz plan to officially postpone the IPO. "In this regard, Samruk-Kazyna, together with QazaqGaz, will initiate the postponement of the IPO to a later date," the fund said.

While the IPO has been deferred, preparations are ongoing. The fund's press service highlighted efforts to align with environmental, social, and governance criteria. This includes obtaining ESG ratings through the CDP Climate and Water programs and preparing an integrated annual report based on GRI or IIRC standards.

QazaqGaz, a portfolio company of Samruk-Kazyna, oversees Kazakhstan's centralized gas transportation infrastructure. The company operates over 76,000 km of pipelines, including 20,000 km of trunk pipelines with an annual throughput capacity of 267.8 billion cubic meters, and 56,000 km of distribution networks. It also manages international gas transit, gas sales in domestic and foreign markets, and the development, financing, construction, and operation of pipelines and gas storage facilities.