Jusan Bank is weighing the sale of Kcell’s shares

The bank’s CEO says several investors are interested in the stock

Jusan Bank has received offers from several investors, including Welfare Fund Samruk Kazyna, which have shown interest in purchasing shares of Kcell, the Kazakhstani mobile operator, said Nurdaulet Aidosov, CEO of Jusan Bank.

«Our sympathies are on the side of Samruk-Kazyna. We like their system of corporate management, internal policies and what they do to transform the holding,» he said.

However, Nurdaulet Aidasov added that no final decision concerning the sale of Kcell shares has been made.

«We cannot reveal the format of the deal because this is a commercial secret. These shares are traded on the KASE stock exchange and any sort of insider information can hit many minority shareholders,» he said.

The CEO has also mentioned that Jusan Bank is going to further develop its business in the sector of telecommunications, no matter the result of any potential deal.

Jusan Bank bought quite a big set of Kcell shares during an open trading session on September 30, 2021. Back then Jusan Bank was saying that the purchasing of Kcell opens the way for synergy between mobile and financial technologies, a combination that could be a solid base for any bank that wants to provide its clients with unique digital services and products.

As of July 1, 2022, among big stakeholders of Kcell were Kazakhtelecom (51%), Pioneer Technologies S.A R.L. (14.87%), Jusan Bank (9.08%) and the National Pension Fund (7.06%).  

Read also