The State Property and Privatization Committee of the Ministry of Finance announced a tender for the sale of 100% of shares of the State Annuity Company Life Insurance Company JSC, the report said on the website of the Ministry of Finance of Kazakhstan.
The tender will be held on December 28, 2018, at 10:00 am Astana time, on the web portal of the state property registry gosreestr.kz. The sale condition is to maintain the profile of activity for ten years, according to the website of the Ministry of Finance of the Republic of Kazakhstan.
State Annuity Company was established on June 15, 2005. A company with a 100% state-owned share pays annual insurance payments in an amount of over KZT200 million, its asset fund is more than KZT 33 billion.
The Ministry of Finance canceled the sale of shares of the State Annuity Company last February.
The starting price for a 100% stake was over 5 trillion tenge. Bidding was then scheduled for March 7, 2018. The ministry promised to report a new bid date later.
Photo per website: kapital.kz