Kazakhstan prioritizes IPOs for its national companies

According to President Kassym-Jomart Tokayev, the task of promoting the country’s national companies to the initial public offering (IPO) is priority number one. He made this statement during the meeting of the Managing Council of the Astana International Financial Center, the Akorda press service reported.

While President Tokayev talked about the IPO for national companies in Kazakhstan, he cited the example of the Samruk-Kazyna holding and its subsidiaries.

«Our fellow citizens shall have an opportunity to buy stock of our national companies and receive dividends from these investments. This is how the culture of investing is evolving,» the president highlighted.

Access to such IPOs must be granted to all the people of Kazakhstan, the president said.

«In order to achieve this we need new digital solutions with no bureaucracy and paperwork,» he said.

As the country’s authorities noted, two companies are almost ready to go on IPO: KazMunayGaz and Air Astana. However, because of the lower interest of foreign investors in these stocks, the government hasn’t made a final decision yet.