[ad_1]
NUR-SULTAN – KazMunayGas (KMG), a nationwide oil and gasoline firm, will go public in 2022, stated Samruk Kazyna Board Chair Almasadam Satkaliyev.
Based in 2002, KMG represents Kazakhstan’s pursuits within the nationwide oil and gasoline business. Picture credit score: KMG
KMG is a key asset of Samruk Kazyna Nationwide Wealth Fund, a state-owned sovereign wealth fund that controls most of Kazakhstan’s helpful belongings – all value almost US$67.4 billion. KMG alone produces 25 p.c of the nation’s oil and gasoline condensate and 15 p.c of pure gasoline and related gasoline. It additionally owns a 56 p.c share of Kazakhstan’s oil transportation market.
In 2021, KMG produced 21.651 million tons of oil and eight.1 billion cubic meters of related gasoline and pure gasoline. Apart from its exploration actions, KMG operates the 4 largest refineries in Kazakhstan and two in Romania.
The preliminary public providing (IPO) of KMG shares will happen on the platforms of Astana Worldwide Change (AIX) and KASE (The Kazakhstan Inventory Change). The fund and KMG have employed funding banks to organize the itemizing.
“The principle level of our improvement technique is the discount of the share of Samruk Kazyna within the native economic system and the implementation of our complete privatization plan. In February this yr, the federal government accredited new standards for our belongings to be included within the record of the privatization program. The philosophy of this standards relies on the thought to advertise an inclusive economic system and create aggressive markets,” stated Satkaliyev on the Astana Finance Days on June 28. He famous KMG’s large potential when it comes to improvement and the vitality transition.
Talking about different plans for IPO, Satkaliyev stated Air Astana is most prepared, however contemplating the present geopolitical state of affairs, conducting Air Astana IPO this yr is not going to be efficient.
There’s a risk of QazaqGas nationwide firm, which is in command of pure gasoline transport by way of fundamental gasoline pipelines, worldwide transit, and sale of pure gasoline on home and international markets, going public in 2023.
“The corporate is younger and impressive,” he stated. “The corporate, nevertheless, must give attention to the expansion within the useful resource base and implementation of enormous infrastructure tasks.”
Addressing the Astana Worldwide Monetary Centre administration council assembly on June 2, President Kassym-Jomart Tokayev emphasised all residents ought to have equal alternative to purchase shares of nationwide firms, together with by means of digital platforms. It is without doubt one of the methods to type an funding tradition amongst individuals.
“To contain the overall inhabitants, we plan to make use of Kazpost’s [national post company] digital infrastructure, exchanges and brokers. For instance, it will likely be potential to purchase shares with out leaving house, utilizing cell purposes, and for distant areas – to make use of the companies of Kazpost workplaces,” stated Satkaliyev.
KMG is amongst 25 firms from Samruk Kazyna included within the nation’s privatization plan for 2021-2025. General, the plan, which is 35 p.c full as of 2021, contains 721 state-owned enterprises.
Privatization has been a protracted effort for Kazakhstan. Its large-scale privatization plan for 2016-2020 was totally applied. The share of the state’s involvement within the economic system went down from 19 p.c in 2015 to 14.6 p.c in 2021.
In November 2018, Kazatomprom, the world’s main uranium producer and one of many Samruk Kazyna belongings, positioned 15 p.c of its shares value $451 million on the London Inventory Change and AIX turning into the primary nationwide firm listed on a global inventory trade. Again then, its shares have been bought by 49 international and 17 native firms and a couple of,700 Kazakh residents.
[ad_2]
Source link
