17.05.2012, 12:02 14266

15% of issuers' shares to be places within People's IPO Program

'People's IPO Program will give the people of Kazakhstan an opportunity to become owners of the shares of the largest companies of the country and allow to create new instruments for investing their funds and provide an impetus for further development of Kazakhstan's equity market,' M. Aubakirov said.

Astana. 17 May. Kazakhstan Today - 15% of issuers' shares to be places within People's IPO Program, Kazakhstan Today reports referring to PM press-service.

The Government of Kazakhstan and Samruk-Kazyna Fund held work on preparation of candidates-companies for placing of the share and on information and explanatory campaign, director of the information and analytical department of JSC Samruk-Kazyna Fund Marat Aubakirov said.

'People's IPO Program will give the people of Kazakhstan an opportunity to become owners of the shares of the largest companies of the country and allow to create new instruments for investing their funds and provide an impetus for further development of Kazakhstan's equity market,' M. Aubakirov said.

Besides, he noted that the Program was aimed at increasing transparency and a level of corporate management in the national companies.

The amendments were also made to the legislative acts for ensuring an opportunity to implement the IPO Program. The draft law was submitted to the Parliament of Kazakhstan in December 2011 and signed by the President in January 2012. Presently, the amendments to the legislative acts are developed and they are aimed at improvement of tariff regulation as long as the activity of the major part of affiliate companies of the Fund is regulated.

According to M. Aubakirov, in order to minimize the risks it was planned to hold a series of placements, objective assessment of the company was made, corporate management of the company was changed into higher standards, the most appropriate companies were chosen for placement.

As earlier reported, Samruk-Kazyna Fund selected a number of companies for placing their shares over several years stage by stage. Thus, the first companies to place their shares in autumn 2012 will be JSC KazTrasOil and JSC KEGOC in 2013. Then, KazTransGas Company, Kazmortransflot and Sumruk-Energo, Kazakhstan Temir Zholy and Kaztemirtrans companies will enter the market. KazMunaiGas and Kazatomprom will be the last to enter the market.

It is worth noting that the first placement id planned only for Kazakhstan stock market (KASE), the shares will be available for the citizens of Kazakhstan only. No more than 15% of the companies' shares will be placed on the market for reduction of the risk of concentration of the shares at possession of small number of people able to afford to buy the most of the places shares.

Alongside with it, one of the factors of the Program serving for success is the level of financial literacy and awareness of the population of the People's IPO Program. Presently, a complex of measures on informing the people about the goals of the Program, opportunities and risks, financial state of the company, etc. was developed.

'Jointly with Kazakhstan Stock Exchange and professional participants of the stock market, the education program which includes academic and presentation materials was developed. The pool of 660 people - speakers and promoters, experts in the sphere of functioning of this market was formed. They will give 311 lectures and 980 visiting presentations in all the regions from May 15 till September 31,' M. Aubakirov added.

Besides, information points where people can learn more about the Program will be opened on the basis of the affiliate network of JSC 'Kazpost'. Responsible people at the level of deputy governors of the regions and deputy mayors of Astana and Almaty cities were defined in every region.

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