On November 28, the Ministry of Finance of Kazakhstan acquired 51,625,495 common shares from KazMunayGas (KMG) for $1.1 billion or $23.17 per share. As a result, the ministry’s stake in the company has increased from 7.69% to 16.15%, KMG said in a statement.
In turn, Samruk Kazyna reported that its share in the company has decreased from 79.73% to 71.27%. At the same time, in early November, the National Bank announced that it had transferred $1 billion from the National Fund and allocated that money for purchasing KMG shares. The ministry plans to acquire the national oil company’s stock for...