“People’s IPO” program is aimed at bringing Kazakhstani government owned first rate entities to the local market, where companies that belong to the Sovereign Wealth Fund will be partially privatized during the course of three years. On the primary market only Kazakhstani citizens and local pension funds will be able to buy shares, while secondary market trading will be open to all other investors.
The first IPO of KazTransOil within the People’s IPO program took place on KASE. The order book was open on November 6, 2012 for one month. More than 34 000 individuals and 10 pension funds subscribed. The demand was more than two times higher than supply and amounted to 59.4 billion Tenge (almost 400 million USD). Individuals invested in the amount of 22 billion Tenge (147 million USD). As a result of this IPO the trading volume of shares market substantially increased.
Beginning February 1, 2013 newly listed securities of KazTransOil will be included in KASE benchmark index.