Kazakhstan's state oil and gas company plans an IPO next year

Kazakhstan capital network reported on October 21 that Yesimov, chairman of the board of directors of the samluk kazena national fund, confirmed that Kazakhstan national oil and gas company (KMG) will IPO in 2020. Tim Bennett, chairman of Astana international financial center exchange (AIX), previously said that Kazakhstan national oil and gas company is expected to issue shares in AIX in the second quarter of 2020, but does not rule out the possibility of delaying the IPO. Halyk finance, the local Bookrunner of the IPO, said the IPO will focus on attracting retail investors and is considering a 15% - 25% stake in Kazakhstan's state oil and gas company. According to the privatization plan of Kazakhstan, spo of Kazakhstan telecom company, IPO projects of Kazakhstan national railway company, Kazakhstan national oil and gas company and Astana airlines will be successively implemented in 2016-2020. From January to September 2019, Saskatchewan fund exceeded its financial targets, with sales revenue increasing by 12.7% year-on-year, operating profit by 9.6% year-on-year, and net income by 39.5%, reaching 1158 billion tenge (about US $2.98 billion), significantly exceeding expectations.