Crucial to rethink the way national companies go public – Head of State

President Kassym-Jomart Tokayev called on to reconsider the way national companies go public at the extended session of the Kazakh Government on Wednesday, Kazinform News Agency reports.

The Head of State believes new approaches to listing the national companies for initial public offering are needed. Increasing the effectiveness of state assets should play a significant role in that respect. It can be done through introducing modern methods of corporate governance that will ensure transparency of the companies’ activities, he said.

Tokayev tasked the newly formed Government to make a list of companies that can go public through an IPO in next couple of years.

He also gave the Cabinet and the Kazakh Agency for protection and development of competition a month to map out the decree on liberalization of Kazakhstan’s economy. The document should focus on three pillars, namely development of market competition, carrying out of effective privatization and a reform of quasi-public sector.