Kazakhstan. Sale of KEGOC shares under People's IPO Program to begin in Q2 2013
2013-03-19 16:02:01
The shares of JSC “KEGOC” will be placed on People's IPO in the second quarter of this year, Deputy Prime Minister Kairat Kelimbetov said on Monday.
"The shares of JSC KEGOC will be placed on People's IPO in the second quarter of this year. In the fourth quarter it is planned to offer shares of JSC "KazTransGas" and JSC "Samruk-Energo", Kelimbetov said.
He noted that the shares of "Samruk-Energo" would be placed with retail investors "in case of timely completion of development of the concept of electric power industry of Kazakhstan and conduct of events aimed at identifying approaches to tariff regulation of generating stations and distribution networks after 2015".
It should be noted that KEGOC became the second national company after KazTransOil to offer its shares on People's IPO.
This company being the system operator of the Unified Power System of Kazakhstan has the functions of electricity transmission through the national power grid, technical supply and operational dispatch management.
To date, the authorized capital of the company amounts to 106.8 billion tenge, and revenues according to preliminary estimates in 2012 totaled 71 674 million tenge.
According to the company, the number of common shares is 10,767,297. The nominal value of the share will be 10 thousand tenge, preferred shares are not available.