Kazakhstan's Samruk-Kazyna Wealth Fund to hold IPOs, SPOs for five companies in 2023-2025

ASTANA. Sept 6 (Interfax) - Samruk-Kazyna National Wealth Fund plans to hold IPOs and SPOs for five of its companies in 2023-2025, the Kazakh government's press service said in a statement.

"Auctioning off quasi-public sector companies and reorganizing them will continue. Kazakhstan Electricity Grid Operating Company (KEGOC) is expected to offer a 5% stake through an IPO/SPO by the end of the year; Air Astana will hold an IPO in 2024, and QazaqGaz, Kazakhstan Temir Zholy, Samruk- Energo in 2025," according to the press service.

The bids of Kazakh residents are granted priority in the People's IPO, similar to the IPO held for KazMunayGas (KMG).

Samruk-Kazyna had planned to hold an IPO for KMG and Air Astana in 2022, as well as offer shares for sale in Tau-Ken Samruk and Qazaq Air and hold an IPO for Kazakhstan Temir Zholy in 2023 as part of the privatization plan.

KEGOC, Kazakhstan's national power grid operator, said earlier that it could offer 5% of its shares in a SPO this year.

As part of the People's IPO in December 2014, 10% of KEGOC's ordinary shares were sold on the Kazakhstan Stock Exchange (KASE). The State Fund is planning to hold a SPO for KEGOC by the year 2025.