Doing “People’s IPO” in KazakhstanMay 24, 2011               1                     Samruk-Kazyna
People’s IPO Program in Kazakhstan“People’s IPO will provide hundred thousands of Kazakhstanpeople an opportunity to own s...
People’s IPO Program in KazakhstanStages of People’s IPO program: Preparatory stage – analysis of current situation in leg...
Key parameters of People’s IPO•   Listing on Kazakhstan stock exchange (KASE);•   Further listing abroad might be consider...
Key approaches to People’s IPOTwo major goals:•   Social – preparing population for investing in stocks;•   Economic – pro...
Key approaches to People’s IPOMeasures planned to address the challenges:•   Informational campaign in all regions;•   Edu...
IPO candidate companies    2012•        KazTransOil              •   Pipeline oil transportation        2013    •     KEGO...
Informational and educational campaignsStages of informational campaign:•   Stir interest of population to People’s IPO;• ...
THANK YOU            Samruk-Kazyna
Upcoming SlideShare
Loading in …5
×

Презентация Заместителя Председателя Правления АО «Самрук-Казына» Бишимбаева К.В. на секции «Рынок акций: Мир IPO»

1,260 views
1,167 views

Published on

Published in: Business, Economy & Finance
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total views
1,260
On SlideShare
0
From Embeds
0
Number of Embeds
102
Actions
Shares
0
Downloads
13
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

Презентация Заместителя Председателя Правления АО «Самрук-Казына» Бишимбаева К.В. на секции «Рынок акций: Мир IPO»

  1. 1. Doing “People’s IPO” in KazakhstanMay 24, 2011 1 Samruk-Kazyna
  2. 2. People’s IPO Program in Kazakhstan“People’s IPO will provide hundred thousands of Kazakhstanpeople an opportunity to own shares of the largest companiesand an additional instrument for investing and increasingsavings” N.NazarbayevRetail IPO experience in other countries:• Italy, Germany and Malaysia were mostly successful;• Russia – non-professional investors were not ready to incur losses;• China – individuals used borrowed money to buy shares;• Poland – proceeds were used to fund budget deficit.Conclusion:• There is no ready-to-use model for mass retail IPO;• We had to develop own program that would satisfy its social and economic goals. 2 Samruk-Kazyna
  3. 3. People’s IPO Program in KazakhstanStages of People’s IPO program: Preparatory stage – analysis of current situation in legislation, level of population’s financial literacy, potential retail investor demand, infrastructure readiness, selection of IPO candidates. Ground works – drafting and approval of the Program by the Government, setting strategic roadmap, setting changes in legislation, strengthening stock market infrastructure. Implementation stage – coordination and monitoring company preparation process, informational and educational campaign, improvement of regulation environment. 3 Samruk-Kazyna
  4. 4. Key parameters of People’s IPO• Listing on Kazakhstan stock exchange (KASE);• Further listing abroad might be considered after IPO on KASE;• Shares are offered to citizens of Kazakhstan and local pension funds;• Retail investors have priority rights for subscribing;• Companies will offer newly issued shares;• Trade on secondary market is not restricted;• Minority stakes (up to 15%) will be offered;• Limit on maximum shares for one individual at subscription;• Price, quantity and structure of placement will be approved by Samruk-Kazyna Board of directors and the Government. 4 Samruk-Kazyna
  5. 5. Key approaches to People’s IPOTwo major goals:• Social – preparing population for investing in stocks;• Economic – providing that companies are ready for IPO and show positive stock price performance.Challenges of People’s IPO in Kazakhstan:• Shares are relatively complex instrument for population;• Large portion of population lives in rural areas;• Offering price should be affordable, but not too low, otherwise people could take it not seriously;• Majority of the companies are regulated and require regulatory reforms;• Corporate governance needs improvement; 5 Samruk-Kazyna
  6. 6. Key approaches to People’s IPOMeasures planned to address the challenges:• Informational campaign in all regions;• Educational campaign to make sure that population makes informed decisions;• Providing access to stock market in all regions through postal service company Kazpost;• Minimize volatility rising from fluctuations on international markets;• Ongoing improvement of regulatory environment to provide long- term growth of the companies;• Provide upside for investors for the aftermaket;• Preparations for IPO in accordance with best practice and full disclosure; 6 Samruk-Kazyna
  7. 7. IPO candidate companies 2012• KazTransOil • Pipeline oil transportation 2013 • KEGOC • Electric power transmission • KazTransGas • Gas transportation and distribution • Samruk-Energy • Power generation and distribution • Air Astana • Air carrier • Kazmortransflot • Sea shipping 2014-2015 • Kazakstan Temir Zholy • Railroad monopoly • Kaztemirtrans • Railroad cargo transportation after 2015 • NC KazMunaiGaz • Integrated oil and gas holding • KazAtomProm • Rare metals and uranium 7 Samruk-Kazyna
  8. 8. Informational and educational campaignsStages of informational campaign:• Stir interest of population to People’s IPO;• Inform population about participation rules and mechanisms;• Provide with basic knowledge and skills for beginners. 8 Samruk-Kazyna
  9. 9. THANK YOU Samruk-Kazyna

×