AKIPRESS.COM - Kazakhstan’s sovereign fund could float stakes in the country’s national oil company, flagship airline and biggest telecoms company next year if market conditions are favourable, a senior fund executive said on Thursday, Reuters said.
The oil-exporting Central Asian nation aims to list the stocks on both the London Stock Exchange and on the domestic Astana International Exchange, said Almasadam Satkaliyev, managing director of the Samruk-Kazyna fund.
“Regarding the timing of listings, we mostly look at market conditions,” he told reporters.
“Kazakhtelecom and Air Astana are, to a large extent, ready (to be listed).”
The two companies were to be listed this year, but Samruk-Kazyna chose not to press ahead with the plans.
Another Kazakh company, privately owned finance and technology holding Kaspi.kz, pulled a planned initial public offering (IPO) in October.
The listing of KazMunayGaz has been planned for 2020 and Satkaliyev said the company is working with banks on its prospectus.