Kazakhstan's Samruk-Energy to be split up before renewables business goes public - shareholder

NUR-SULTAN. June 28 (Interfax) - There are plans to split up Samruk-Energy, Kazakhstan's largest generating company, into two companies before an initial public offering for its renewable energy sources and electricity sales units, Samruk-Kazyna CEO Almassadam Satkaliyev said on the sidelines of the 5th Astana Finance Days Conference on Tuesday.

"We have preliminarily received consent from the government and the country's leadership to split the company into two parts," Satkaliyev said.

The company will be split into coal assets and assets related to renewable energy sources and electricity sales, he said.

Samruk-Energy's IPO has been put off for many years. According to the latest plans, power generation is due to be floated on the exchange in 2023-2024.

Samruk-Energy JSC is wholly owned by Samruk-Kazyna National Wealth Fund. The company specializes in generation, distribution, and sales of electricity and heat, as well as coal production.