Kazakh oil and gas company KazMunayGas (KMG) has started its secondary trading of shares on Astana International Exchange (AIX) and Kazakhstan Stock Exchange (KASE), QazMonitor reports.
During the briefing held by KMG’s holding company Samruk-Kazyna, the company’s chair of the board Almassadam Satkaliyev announced that nearly 129,000 applications were submitted, with investments from retail investors accounting for 48.5% of the final placement of KMG shares.
"We were saying that we would guarantee a minimum level of dividends, but now we consider maximizing the payment of dividends, based on the company’s ability to provide a real interest and a benefit to stock market participants from owning a national company," said Satkaliyev.
According to the AIX press service, initial public offerings (IPO) were coordinated under the management of BCC Invest, Freedom Finance, Halyk Finance, Sky Bridge Invest, Renaissance Capital and Wood and Co. The shares are traded under the KMG ticket and settled in the national currency.
The exchange’s chief executive officer Renat Bekturov said that 96% share of the IPO went to Kazakh investors. He also added that AIX received over 6,000 applications worth ₸1 billion from retail investors.
“The record-breakers in terms of age are a 91-year-old investor from Kyzylorda and an 81-year-old resident of Atyrau. Application for the largest amount – about ₸19 million – was received from a female investor. 50% of the applications were for an amount less than ₸1 million,” said Magzum Mirzagaliyev, chair of the KazMunayGas board.
