Kazakhstan to announce IPO plans for top companies in February

By bne IntelliNews December 7, 2016

Kazakhstan will hold an investor day in London in February to announce details of a plan to privatise a number of large companies via initial public offerings (IPOs), the head of the Samruk-Kazyna sovereign wealth fund said on December 6.

The government, which faces a plunge in revenues from oil, has said earlier it plans to sell stakes of at least 25% in 43 large state-owned companies. Air Astana's IPO is scheduled for the end of 2017, while stakes in uranium miner Kazatomprom and telecommunications operator Kazakhtelecom will be offered for sale in 2018. Other companies that are to be privatised include KazMunaiGaz, electricity producer Samruk-Energo, mining company Tau-Ken Samruk, Kaztsink and Kazpochta. 

The Kazakh government aims for a full or partial sell-off of 1,008 companies under its privatisation plans until 2020. The companies include 217 units in direct ownership of Samruk-Kazyna or via its national company subsidiaries.

Kazakhstan has sold 310 state-owned companies as part of its privatisation programme launched in 2014, the finance ministry said on September 21. Kazakh state budget received KZT6.99bn from the privatisation deals by September 20. In addition, regional budgets obtained KZT4.83bn, national holdings acquired KZT68.06bn and corporate social enterprises got KZT6.3bn.

In 2015, Kazakh President Nursultan Nazarbayev ordered the government to expand the privatisation plan in an attempt to reduce state involvement in the economy and to increase its competitiveness. Privatisation is also seen by Kazakh authorities as a way to revive the economy that has been hit by the low oil prices. The privatisation programme will reduce the government’s participation in the country’s economy to 15%.

Related Articles

Kazakh court sentences labour union leader to two years in prison

A court in Kazakhstan on May 16 sentenced a labour union leader at the Oil Construction Company (OCC), Amin Eleusinov, to two years in prison after convicting him of ... more

EBRD lends Kazakhstan $180mn for irrigation systems upgrade

The European Bank of Reconstruction and Development (EBRD) has signed loan agreements worth $180mn at the bank’s annual meeting in Cyprus to support a strategic programme to ... more

Kazakh president mulls ban on beards, cropped trousers in move against religious extremism

Kazakh President Nursultan Nazarbayev raised the issue of banning Islamic attire and beards associated with extremism at a meeting with Kazakhstan’s Spiritual Board of Muslims on April 19, the ... more

Register here to continue reading this article and 2 more for free or purchase 12 months full website access including the bne Magazine for just $119/year.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

To continue viewing our content you need to complete the registration process.

Please look for an email that was sent to with the subject line "Confirmation bne IntelliNews access". This email will have instructions on how to complete registration process. Please check in your "Junk" folder in case this communication was misdirected in your email system.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

If you have any questions please contact us at sales@intellinews.com

Subscribe to bne IntelliNews website and magazine

Subscribe to bne IntelliNews website and monthly magazine, the leading source of business, economic and financial news and commentary in emerging markets.

Your subscription includes:
  • Full access to the bne content daily news and features on the website
  • Newsletters direct to your mailbox
  • Print and digital subscription to the monthly bne magazine
  • Digital subscription to the weekly bne newspaper

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

bne IntelliNews
$119 per year

All prices are in US dollars net of applicable taxes.

If you have any questions please contact us at sales@intellinews.com

Register for free to read bne IntelliNews Magazine. You'll receive a free digital subscription.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

IntelliNews Pro offers daily news updates delivered to your inbox and in-depth data reports.
Get the emerging markets newswire that financial professionals trust.

"No day starts for my team without IntelliNews Pro" — UBS

Thank-you for requesting an IntelliNews Pro trial. Our team will be in contact with you shortly.

Dismiss