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Sovereign Wealth Funds Briefing - Categorized | Financials

Kazakh bank Halyk to buy back preference shares

Posted on 23 November 2011

Halyk Bank, Kazakhstan’s second-biggest lender by assets, expects to start buying back preference shares worth up to 20 billion tenge ($136 million) on the open market from December, a senior company official said on Tuesday.
Samruk-Kazyna, the sovereign wealth fund, owns slightly over 50 percent of preferred stock in the bank. Halyk said its planned buy-back on the open market was not part of its option agreement to buy out the preference shares held by the fund………………………………………..Full Article: Source


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