People's IPO not an opportunity to get rich - Finance Minister Zhamishev

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ASTANA. July 31. KAZINFORM Kazakh Minister of Finance Bolat Zhamishev believes that in no case one should publicize the Programme called "People's IPO" as a kind of opportunity to get rich, it is reported on the official website of the state program.

"For the public it is not something that will help become rich. For the population it is one of the tools of savings. There is an opportunity to put money on deposit in banks. There is an opportunity to acquire property, and there must be still a way in all countries, that is to buy the securities, " said Bolat Zhamishev.

We are reminding that for the first time about the program "People's IPO", enabling Kazakh people to become the co-owners of the largest Kazakhstani national companies, said the Head of the State Nursultan Nazarbayev in February 2011 at the XIII Congress of the People's Democratic Party "Nur Otan" in Astana.

In July 2011, the Board of Directors of "National Welfare Fund" Samruk-Kazyna "JSC approved the program of the placement of shares of subsidiaries and affiliated companies in the stock market. In September of the same year the program was approved by the Government of the Republic of Kazakhstan.

At present, a list of joint stock companies the shares of which will be offered for sale stage by stage, until 2015. In 2012, that was "KazTransOil". This year they are"KEGOC", "Air Astana", "KTG", "Samruk-Energo", and "NMSC Kazmortransflot." In 2014 - the organization of "NC" Kazakhstan Temir Joly "," Kaztemirtrans", and in 2015 these are companies "Kazatomprom " and "KazMunaiGas".

At the same time, the government will retain control of the base enterprises -only small stakes are for sale.

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