KazMunayGaz is going public this year

KASE and AIX are expected to host the IPO

KazMunayGaz (KMG), a national oil and gas company in Kazakhstan, is planning to go public by the end of this year, according to Almasadam Satkaliyev, head of Samruk-Kazyna, a sovereign wealth fund that owns the company. The revelation was made during Astana Finance Days in Nur-Sultan.

According to Satkaliyev, the fund and KMG have negotiated with the leading investment banks in Kazakhstan. The forthcoming IPO is going to be available for all citizens of Kazakhstan, although it will also be aimed at a wide range of retail and institutional investors.

“In order to attract as many people as we can, we are going to use the digital infrastructure of Kazpost, stock exchanges and brokerage companies. For example, anyone will be able to buy the company’s shares via a mobile app, while in remote districts people can rely on Kazpost,” said Satkaliyev.

He also welcomed all the people of Kazakhstan to take an active role in acquiring the stock of the leading national oil and gas company in the country.

KMG announced its plan to go on IPO in 2020. However, because of the COVID-19 pandemic, the deadline for the IPO was later extended for an uncertain term. In May 2022, Satkaliyev once again said that KMG and Air Astana were on high alert and ready to go on IPO. At that time, the move was canceled though as foreign investors lost their interest in the IPOs of the two Kazakhstani issuers.

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