Samruk-Kazyna Intends to fix a Minimum Guaranteed Dividend Rate on KazMunayGas Shares for 3 years
At the Financial Literacy Forum held annually at AIX as part of the World Investor Week, Yernar Zhanadil, Managing Director for Development and Privatisation of the Samruk-Kazyna Fund, announced the Fund’s intention to fix a minimum guaranteed dividend rate on KazMunayGas shares for three years following the IPO. The listing of KazMunayGas shares is expected by the end of 2022.
To purchase shares of KazMunayGas, investors can use services of trading members of AIX and KASE or subscribe directly via Tabys mobile app or in Kazpost offices.
Renat Bekturov, CEO of AIX, said:
“The upcoming IPO is of a unique nature – the citizens can use a direct subscription without opening an account with a broker. This is a generally recognized global practice for IPOs. For example, the IPO of Royal Mail in 2013 is one of the successful cases. We have applied this practice so that more citizens of Kazakhstan can quickly purchase shares of the national company from anywhere in the country. They can do it using the Tabys app developed by AIX.”
The direct subscription will be useful for those citizens of Kazakhstan who do not have time to open a brokerage account for any reason, who have not previously invested in the stock market and need more time to choose a broker. It will also be convenient for long-term investors who do not plan to sell the purchased shares anytime soon and do not need to open a brokerage account at the initial stage.
As part of the AIX Financial Literacy Forum, a session on privatisation and IPO was held and attended by speakers from the Samruk-Kazyna Fund, KazMunayGas National Company, Kazpost and brokerage companies, such as Freedom Broker, Halyk Finance, BCC Invest and Sky Bridge Invest.
Since September 17, 2022, representatives of these companies have held more than 100 meetings with the public and employees of industrial enterprises initiated by the Samruk-Kazyna Fund in more than 60 cities of Kazakhstan. In the regions, almost 84,000 people got the opportunity to ask their questions about the upcoming IPO of KazMunayGas directly to its organizers.
In the next two weeks, meetings will be held with the public and employees of large enterprises in Astana and Almaty.
Reference:
World Investor Week is held annually by regulators in 100 countries all over the world under the auspices of the International Organization of Securities Commissions (IOSCO) – an international organisation that unites world’s securities regulators. IOSCO members regulate more than 95% of the world’s securities market in more than 115 jurisdictions.
The Astana Financial Services Authority (AFSA) of the Astana International Financial Centre (AIFC) is the organiser of the World Investor Week. This year, Sustaining Resilience Investing is the central theme of the World Investor Week at AIFC.
AIX was formed in 2017 within the Astana International Financial Centre 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 favourable 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
The Astana International Financial Centre (AIFC) is an independent jurisdiction that started operations in 2018. In accordance with the Development Strategy until 2025, the key focus of the AIFC is to consolidate as a universal platform connecting the countries of the EAEU, Central Asia and the Caucasus. www.aifc.kz
