Samruk-Kazyna sells 3% of KazMunayGas shares in IPO for $330 mln

ALMATY. Dec 6 (Interfax) - Samruk-Kazyna sold 3% of shares in KazMunayGas (KMG) in the state oil and gas company's IPO for KZT153.8 billion or $330 million, the Kazakh sovereign wealth fund said in a statement.

"The final decisions of the fund's board of directors and government were made December 5 on the disposal of KMG shares at a price of KZT8,406 in the amount of 3% of the company's charter capital. The total number of bids was 129,900 for the sum of KZT153.8 billion or $330 million," the fund said in a presentation at a government meeting on Tuesday.

Bids were accepted from November 9 to December 2. Samruk-Kazyna offered up to 5% of KMG shares in the IPO.

"Priority was given to accepting bids from citizens of Kazakhstan. The total number of bids received from our citizens was 128,700. The total amount was KZT74.6 billion," Samruk-Kazyna chairman Almasadam Satkaliyev said, reporting on the IPO results at the meeting.

Satkaliyev said earlier that KMG will set minimum guaranteed dividends for three years in the amount of KZT200 billion-KZT250 billion annually, which will ensure investor interest in the company's shares. The prospectus for KMG's share issue said the company plans to pay annual dividends of at least KZT200 billion-KZT250 billion for financial years 2022, 2023 and 2024 "on the condition that supporting prices for oil remain at no less than $70 per barrel."

It was said that priority when closing the order book would be given to retail investors who are citizens of Kazakhstan, as this was a "people's IPO."

KMG is the national operator for hydrocarbon exploration, production, refining and transportation, representing the state's interests in the oil and gas sector.

The official exchange rate for December 6 is KZT469.17/$1.