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Samruk-Kazyna Sees Potential for KazMunaiGaz, Temir Zholy Share Offerings

Kazakhstan’s National Wellbeing Fund Samruk-Kazyna sees “potential” for initial public offerings of shares in its KazMunaiGaz National Co. and Kazakhstan Temir Zholy units, Chief Executive Officer Kairat Kelimbetov said.

The fund also sees potential for an IPO of its Development Bank of Kazakhstan unit, Kelimbetov said. Samruk-Kazyna owns 100 percent of all three units, according to its website. Uranium miner Kazatomprom won’t be listed, he said in an interview today in Almaty.

Samruk-Kazyna itself may consider an IPO “in the very long term,” Kelimbetov said. The decision to hold an IPO will depend on “investors’ interest in the Kazakh economy,” he said, adding that sovereign wealth funds would likely invest in the fund.

To contact the reporter on this story: Nariman Gizitdinov in Almaty at ngizitdinov@bloomberg.net

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