Pension funds can join People's IPO program: Vice PM Kelimbetov

ASTANA. March 18. KAZINFORM "The People's IPO Program is aimed at citizens of Kazakhstan who wants to become co-owners of the largest national companies," Vice Prime Minister Kairat Kelimbetov told a press conference in Astana dedicated to the 2nd echelon companies entering the Kazakhstani stock market within the program.

"It has been agreed that KEGOC JSC will be the first company-candidate to join the stock market in the second quarter of 2013; KazTransGas JSC's entry is scheduled on the fourth quarter of 2013," Mr. Kelimbetov said.

"I believe that pension funds will be able to participate in the program as well, but only until the 1^st of July 2013. That is when the law on the Single National Pension Fund comes into effect. After that the existing pension funds will be transformed into the pension asset management companies that can become a part of the People's IPO Program as well," he added.