Kazakhstan nominates UBS and Citi to run state assets.

By bne IntelliNews May 10, 2011
Kazakhstan nominates UBS AG and Citigroup Inc. as the investment banks handling its Peoples IPO program of state assets sale. To remind you, Kazakh president announced a privatization of major state companies earlier this year. The main aim is to enable the people of Kazakhstan to participate in the growth prospect of the countrys leading companies, according to a statement from national welfare fund SamrukKazyna, which manages the IPO. The authorities want to sell shares on the domestic market to the ordinary citizens and to get public support. In order to smooth the process a new trading platform on the local stock exchange KASE was launched recently. SamrukKazyna was ordered to provide IPOs plan by Jun 1.

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