Kazakhstan's Samruk-Kazyna state fund could hold SPO to place 12% of KazMunayGas shares

ASTANA. June 7 (Interfax) - Kazakhstan's Samruk-Kazyna State Fund could hold a secondary public offering for investors for another 12% of the shares in KazMunayGas, Yernar Zhanadil, Samruk-Kazyna managing director for development and privatization, said on Wednesday at the Astana Finance Days conference.

"We also have KazMunayGas, which offered 3% [of the shares during the IPO], and the fund currently owns 87% [of the shares]. We also have a government instruction that we could go down to 75%, similar to Kazatomprom. Therefore, we have an unplaced number of shares that could also be placed on the exchanges going forward. Moreover, this is necessary in order to increase the liquidity of KazMunayGas securities, and the funds would be allocated to the National Fund going forward," Zhanadil said at the conference.

JSC KazMunayGas National Company is Kazakhstan's national operator for exploration, production, processing, and transportation of hydrocarbons. The company represents the government's interests in the country's oil and gas sector. Samruk-Kazyna State Fund owns 87.42% of the shares, the National Bank of Kazakhstan holds a 9.58% stake, and 3% of the shares are in free float.