Deals
Halyk Bank to Pay $193 Million for State-Owned Preferred Shares
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Halyk Savings Bank, the lender controlled by Kazakh President Nursultan Nazarbayev’s daughter and son-in-law, will pay 28.8 billion tenge ($193 million) for its preferred shares owned by the state.
Halyk Bank, the second-largest Kazakh lender by assets, will buy 160 million shares for 179.94 tenge apiece from sovereign wealth fund Samruk-Kazyna today and tomorrow, the Almaty-based lender said in a statement to the Kazakhstan stock exchange. Halyk didn’t elaborate on the transaction.