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Sovereign Wealth Funds Briefing - Categorized | Asset Allocation, Financials, Market

Samruk-Kazyna seeks top price in Kazakhstan’s debut “People’s IPO”

Posted on 31 October 2012

Kazakhstan’s Samruk-Kazyna has set a price of KZT725 ($4.82) per share for the upcoming IPO of oil transportation company KazTransOil, valuing the 10% stake at $186m. The sovereign wealth fund also confirmed the schedule on another nine so-called “people’s IPOs” over the next three years.
The book will open on the float of the KazTransOil stake on November 6, close on December 5, with a settlement period lasting up to December 14, the Samruk-Kazyna board of directors agreed October 29. “The offering price implies a P/E [price/earnings] ratio of around 11.2x, based on 2011 net profit of US$172m (KZT25.9bn),” Visor Capital writes………………………………………..Full Article: Source


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