Samruk-Kazyna told about next subsidiary to be part of IPO program

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ASTANA. KAZINFORM - The main criteria for taking part in the IPO Program will be stability and high profitability of the company, deputy head of the board of "Samruk-Kazyna" JSC Yelena Bakhmutova noted.

As is known, the initial list of subsidiaries of "Samruk-Kazyna" JSC underwent a serious correction. Several companies were excluded from the list. The main criteria were stability and high profitability of a company placing its shares on the market. Thus, "Samruk-Energo" JSC will join the People's IPO Program in 2015, "Kazakhstan Temir Zholy" JSC and "Kazatomprom" in 2016, the official website of the People's IPO Program informs. "The first package of companies was formed in a really short time. After the instructions given by the President of Kazakhstan, the Program was developed really quickly. The companies, that were considered to be good options for entering the stock market, were chosen. The Program dictates the companies to enter the market when they are ready and when the legislation basis is prepared. Therefore, there is no damage in any sense for the people in terms of reconsideration of the companies list," Y. Bakhmutova said. "It is important to understand that in case of significant and long-term fall of a price of one or another company-participant of the IPO Program, the entire idea of the People's IPO Program can be simply depreciated. We have trust of people in the government at stake. However, the market is unpredictable and nobody is going to give any guaranteed to potential investors that the shares they bought will be steadily growing, but the negative scenario would be quite unwelcome from viewpoint of the image of the state," she noted.

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