There will be no KazMunayGas IPO in 2020
NUR-SULTAN. May 4 (Interfax) - There will be no IPO of Kazakhstan's national company KazMunayGas in 2020, KazMunayGas Deputy Chairman of the Management Board - Chief Financial Officer Dauren Karabayev said at a press briefing in Nur-Sultan on Monday.
"There will be no KazMunayGas IPO in 2020. [...] The time of KazMunayGas IPO will be reviewed in the light of the new situation on the global oil and financial markets, and will depend on markets' recovery, especially the recovery of IPO markets after the fall of March-April 2020," Karabayev said.
Samruk-Kazyna Managing Director for Logistics and International Cooperation Kanat Alpysbayev said earlier that the time of KazMunayGas IPO will depend on the market situation.
Reports published before that said the KazMunayGas IPO would take place in October-November 2020.
Samruk-Kazyna Managing Director for Assets and Privatization Almasadam Satkaliyev said in December 2019 that the KazMunayGas IPO won't happen earlier than in the first quarter of 2020 at the Astana International Exchange (AIX) and the London Stock Exchange (LSE).
In his words, Samruk-Kazyna was planning to sell up to 25% of KazMunayGas stock for $3 billion to $5 billion.
KazMunayGas is Kazakhstan's national operator in the field of prospecting, extraction, refinery, and transportation of hydrocarbons, which represents government interests in the oil and gas sector. Some 90.42% of the company stock is owned by the government fund Samruk-Kazyna, and 9.58% by the National Bank of Kazakhstan.
Founded in 2008, the National Wealth Fund Samruk-Kazyna manages the biggest strategic companies of Kazakhstan, including Air Astana, Kazakhtelecom, Kazatomprom, KazMunayGas, Kazpost, and others.