KazMunayGas (KMG) and Air Astana are at a very high degree of readiness for the initial public offering (IPO), although global investors’ interest in Kazakhstani issuers has declined. That’s why the holding is going to set a final timeline for the IPO in the summer, according to Almasadam Satkaliyev, head of the Samruk-Kazyna holding.
“We’ve seen that the situation with possible IPO is not so good. Almost all financial markets report high volatility. Moreover, we’ve also seen a decline in interest in our region from global investors.
Nevertheless, we believe that our companies have a huge potential for public offering. For example, KMG and Air Astana report a high level of preparedness for IPO. We are still planning to do so this year but the final decision will be made in summer based on various factors including geopolitics,” he said.
Satkaliev noted that the holding is going to decide in July once the company gets the results of a situation analysis and recommendations from investment consultants.
Previously, Samruk-Kazyna announced that two of its subsidiaries will go public this year. It is expected that both companies will offer at least 20% of their available stocks. Even though the offering is going to cover some international markets, the national companies will instead be focusing on retail investors from Kazakhstan.