Kazakh govt plans to present people's IPO program by mid-March
ASTANA. Feb 28 (Interfax) - The Kazakh government plans to present a "people's IPO" program in two weeks.
"The so-called 'people's IPO', has not been approved and it is still under development. Within the next 10-14 days together with the Ministry of Finance and Samruk-Kazyna we will finally dot the i's and cross the t's and finally resolve the issue of involving citizens in taking interest in state property through the pension funds," Prime Minister Karim Masimov said at the National Business Forum-2011 organized by Zertteu Group in Astana.
Kazakh Finance Minister Bolat Zhamishev has said the government would approve the first that will hold IPOs in March this year.
Kazakh President Nursultan Nazarbayev has asked the government to ensure public placements of the national companies by the year-end.
"For the first time I request the Government to develop a program for Samruk-Kazyna companies to offer their shares to the population as part of so-called "people's" IPOs. By the year end Samruk-Energo, KEGOC and Kazpost must have held the placements," Nazarbayev said in February. "At the next stage, 2012-2013, KazMunaiGas, Kazakhstan Temir Joly and Kazatomprom should enter the stock market," he said.