Samruk-Kazyna Fund Companies share IPO readiness and preparation plans with AIFC officials

In anticipation of the upcoming  IPOs under the Comprehensive Privatization Plan for 2021–2025, the Astana International Financial Center (AIFC) held a high-level meeting with senior executives of the concerned companies that are part of the Samruk-Kazyna Fund (“Fund”). During the meeting, the Companies’ representatives discussed the timing of going public, the necessity of adhering to international best practices for raising capital, and practical steps for the promotion of domestic issuers across the global investment community and within Kazakhstan. 

The top management of the companies targeting IPOs in the short term, including Air Astana, KazMunayGas and KazTransGas, reported on the status of their respective preparation and placement plans.

Kairat Kelimbetov, Governor of the AIFC, said:

“The strategy for privatization of state-owned assets proposed by Elbasy in 2015 is not only aimed at the development of capital markets, but also contributes to the efficiency of these companies and the generation of high returns for the state. The AIFC jurisdiction and infrastructure offer the most attractive environment for the implementation of the privatization program at the AIFC platform, and Kazatomprom’s successful case proves it.” 

Almasadam Satkaliyev, Samruk-Kazyna CEO of the Samruk-Kazyna Fund, said:

“The country’s leadership and the Government have set ambitious tasks for the Fund and the AIFC to attract investment and develop the local capital market. The most important area of cooperation between the Fund and the AIFC is the IPOs of the largest portfolio companies on the AIX. We are ready to synchronize our plans to enter the international capital markets awhile offering certain elements of the “People’s IPO” on the local platforms. This approach fully meets the national objectives, the interests of the Fund and its companies.” 

Renat Bekturov, CEO of the AIX, said:

“As instructed by Kassym-Jomart Tokayev, the President of Kazakhstan, retail investors should get ample opportunities to participate in the upcoming IPOs. It is extremely important to structure the public offering to be as accessible as possible and to encourage investors not just to buy and sell, but also to hold shares in their portfolio for the longer term. It will be done through innovative approaches, and AIX is fully ready to facilitate this.”  

Reference: 

AIX was formed in 2017 within the Astana International Financial Center development framework. AIX shareholders are AIFC, Goldman Sachs, the Shanghai stock exchange, the silk Road Fund, and NASDAQ, which also provides the AIX trading platform. The exchange operates within a regulatory environment based on the principles of English Law, thus providing a reliable investment environment. The mission of AIX is to develop an active capital market in Kazakhstan and the region by providing clear and favorable conditions for attracting financing to private and public businesses. AIX develops special segments for mining companies as well as infrastructure projects under the Belt and Road initiative. More details: www.aix.kz 

AIFC – The Astana International Financial Center was established on the initiative of the First President of the Republic of Kazakhstan – Elbasy Nursultan Nazarbayev as part of the National Plan “100 steps to implement five institutional reforms”. On July 2, 2020, as part of the meeting of the AIFC Management Council, the Center’s Development Strategy was adopted until 2025. According to it, the vision of the AIFC is to become a leading international financial center in the region, including Central Asia, the Caucasus, the EAEU countries, Western China, Mongolia, and Eastern Europe.

The mission of AIFC is to promote the sustainable long-term development of the region. As the Head of State noted, K.Tokayev, “The AIFC with its unique capabilities can act as a universal platform connecting the countries of the region.” https://aifc.kz/