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

Kazakh bank Halyk to repurchase state-held shares

Posted on 11 March 2011

From Reuters: Halyk and Almex, a company owned by entrepreneur Timur Kulibayev and his wife Dinara, a daughter of President Nursultan Nazarbayev, will together spend 33 billion tenge ($226 million) buying back the shares from sovereign wealth fund Samruk-Kazyna.
Almex will transfer part of its call option on the 259 million common shares held by Samruk-Kazyna to Halyk, the bank said, in a deal that will then see Halyk buy back 213 million shares and Almex 46 million at a price of 126.8 tenge per share……………………………………….Full Article: Source


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