According to the Ministry of Finance, to date out of 898 objects of the Comprehensive Privatization Plan, 530 have been put up for sale. Of these, 473 objects have been sold for 470 billion tenge.
- 47 objects of republican ownership for 44 billion tenge;
- 246 communal property objects for 64 billion tenge;
- 102 national holdings for 356 billion tenge;
- 78 social private corporations for 6 billion tenge
The number of put up for sale and sold includes the IPO results for Kazatomprom JSC. Trading on 15% of the shares took place Nov. 14 on the AIFC (2%) and the London Stock Exchange (13%). The shares were acquired by 49 foreign and 17 domestic legal entities, as well as 2,700 citizens of Kazakhstan. The total amount of transactions amounted to 168 billion tenge or $451 million.
In addition, 280 objects are to be reorganized and eliminated, 170 of them have already been reorganized and liquidated. Thus, the implementation of the Comprehensive Privatization Plan amounted to 84%.
“I want to note that the Comprehensive Privatization Plan is supplemented with objects identified during the inventory. In 2018 an additional 48 facilities were added to the Comprehensive Plan,” said the minister.
The total sale price of 473 objects sold (470 billion tenge) exceeds the estimated value of these objects (462 billion tenge) by 1.7%, the book value (312 billion tenge) — by 51%.
“There are no restrictions for IPO participation, absolutely all citizens have the right to participate in the IPO. This gives the right to participate in the profits of a company that exposes its shares on the stock exchange, to receive part of the profits from dividends on the one hand, and on the other hand, if the shares of the company grow, still due to the increase in share prices they can earn on these transactions,” noted Smailov.
In 2019, 123 objects are planned for sale. In 2020, 22 largest top-end facilities of the Samruk-Kazyna Sovereign Wealth Fund, including those to be sold through an IPO, will remain for sale.
“In 2019, we plan to withdraw two companies of the Samruk-Kazyna Fund through IPO. This is Kazakhtelecom and Air Astana. In 2020, these are Kazakhstan Temir Zholy, Kazmunaygas, Kazpost and Samruk-Energo. In each case, Samruk-Kazyna Fund will make an appropriate decision at the fund’s council on the sale of shares for an IPO. The website of the fund will contain all the information about when, how the tenders will be held, about the number of shares, dates, venue. That is, the fund will publicly announce an IPO,” said Smailov.