According to him, Air Astana is currently more than any other company ready for an IPO.
“Taking into consideration the current situation, including the conflict in the European part of the continent, we, together with the second shareholder, BAE Systems, realize that Air Astana’s IPO will most likely be ineffective this year, and we have carried out deep work with consultants. We will wait for the next investment gap,” he noted during Astana Finance Days.
However, the national fund has started working with strategic investors who can offer certain conditions regarding participation in this process as anchor investors or as an entry into the capital of this company, Satkaliyev added.
“The approach on Qazaq Air is about the same. We abandoned the idea of IPO for the company based on its scale. Given its regional status and an effective development strategy and fairly good results shown despite the situation with the pandemic this year, we are in the process of privatization and negotiations with key market players. We will inform the public about the results of this work,” he promised.
The executive of state fund also spoke about the IPO of KazMunayGas.
“We are officially announcing the IPO of KMG this year on the AIX and KASE platforms. We rather deeply analyzed the structure and interest from potential local investors. And we are now completing the work on the market assessment. We see the huge potential of this company in terms of development, a very good history, big plans for the energy transition, development of expert routes and business diversification. The key aspect of IPO will be the wide involvement of the Kazakhstani population in this process,” he explained.
The speaker also spoke about the future of Samruk-Energy.
“Initially, it was supposed to be sold to a strategic investor, then a transfer to IPO was considered. It is a key company in the field of electricity generation. We have got the consent from the government and at the company level to split this company into two parts. It has fairly large percentage of assets involving coal generation. We will divide this company into net assets related to renewable energy, distribution networks, electricity retail and coal assets, which will have their own development program,” the national fund executive said.
Source: https://lsm.kz/v-kazahstane-vremenno-otkazalis-ot-ipo-air-astana-i-qazaq-air
Photos are from open sources.
