On May 6, KAZ Minerals shares will be excluded from the KASE Index. The decision is based on the company’s voluntary delisting from the LSE on May 11.
Without KAZ Minerals, the list of companies for KASE Index will only include seven equities:
1) KZ0007786572 (CCBN) Bank CenterCredit;
2) KZ000A0LE0S4 (HSBK) Halyk Bank;
3) KZ1C00000876 (KCEL) Kcell;
4) KZ1C00000959 (KEGC) KEGOC;
5) KZ1C00001619 (KZAP) Kazatomprom;
6) KZ0009093241 (KZTK) Kazakhtelekom;
7) KZ1C00000744 (KZTO) KazTransOil.
The pivotal journey toward the delisting of KAZ Minerals started in October last year and now it’s nearly over. On April 9, the company announced that the vast majority of minorities agreed with the repurchase offer.
Since 49.8% of minor shareholders have approved the terms of the offer, two major shareholders Vladimir Kim and Oleg Novachuk, who both own 39.37% of the company’s shares, have managed to consolidate 89.17% of KAZ Minerals shares.
According to the company, its securities will be excluded from trading on May 11 at 8:00 a.m. London time. After that, the company should change its registration to a private company with limited liability.
The company’s equities were already excluded from the FTSE 250 index, which consists of stocks by issuers rated by LSE from 101 to 350 positions by capitalization.
