People's IPOs to give Kazakhs chance to own shares of largest companies, N. Nazarbayev

ASTANA. March 1. KAZINFORM The most important issue is offering of shares of large national companies to the population - the People's IPO.

Head of State Nursultan Nazarbayev has made it public at the meeting with journalists of leading mass media of Kazakhstan on Monday evening, February 28; the Presidential press service reports.

A work will be carried out in several stages. According to the President, KazMunaiGas Exploration Production JSC will offer five percent of its shares for sale this year. The cost of this stock amounts to USD 500 mln. One person may purchase no more than 50 shares. The sale will be made through Kazpost. Then there will be sold shares of KEGOC, Kazpost, Kazakhstan Temir Zholy and a number of energy companies. Kazzinc, Karmetkombinat, ENRC and Kazakhmys will put up their shares as well.

Our citizens will be able to become co-owners of the largest national companies of Kazakhstan. Shares that will remain unsold will be realized by the country's pension funds. It is the most important event of the state. Only Kazakhstan's citizens can participate in the program.

"Today the whole world earns on the stock market. The Kazakhstani people should learn this," N.Nazarbayev stressed.