31.10.2012 - Samruk-Kazyna seeks top price in Kazakhstan's debut "People's IPO"
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
Print