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The Public Council of Samruk-Kazyna to Discuss Preparation for KazMunayGas IPO

10.10.2022

As part of the awareness-raising work on the IPO program of JSC NC KazMunayGas, the Public Council of Samruk-Kazyna JSC has held an open meeting with the participation of external experts, heads of exchanges (KASE, AIFC, AIX), representatives of the public, associations of financiers and minority shareholders, investment bankers, economists, as well as the media. 

The main Agenda item is the JSC NC KazMunayGas IPO: prerequisites and status of preparation. Yernar Zhanadil, Managing Director for Development and Privatization of the Fund has been the reporter. «Samruk-Kazyna is conducting a campaign of awareness-raising meetings with citizens across the country to clarify information about plans and approaches to transfer the assets of the Fund Group to the competitive environment, and in particular, the IPO of large national companies. In Q4 this year, it is planned to hold the IPO of KazMunayGas on local stock exchanges - AIX and KASE, within which priority will be presented, first of all, to citizens of Kazakhstan. The Fund is always ready for an open dialogue with the public on issues of privatization and IPO of large companies of the Fund,» - he said.

The management of JSC NC KazMunayGas provided information about the company’s current activities, key production and financial indicators and growth prospects. «On the eve of the IPO, KazMunayGas has updated its development strategy and strategic development plan until 2031. Among the growth points of the company, I would like to note the active work in geological exploration. We see prospects in the development of exploration projects both onshore and offshore. In addition, it is planned to increase oil production at our large projects in Kashagan and Tengiz. It is worth separately noting the development of petrochemistry: a polypropylene production plant is at the launch stage, active work is underway on polyethylene and butadiene projects,» - Dauren Karabayev, Deputy Chief Executive Officer for Economics and Finance of JSC NC KazMunaiGas said. 

The meeting has been held in the format of an open dialogue. Each of those present could express their opinion about the IPO of KazMunayGas, as well as about the risks and opportunities of privatization in general. Members of the public were particularly interested in KMG’s development strategy in the coming years and plans for the future. 

One of the topics of discussion is KMG’s plans to develop oil and gas chemistry in Kazakhstan. A number of experts believe that the company should focus on mining, not on processing raw materials. Dauren Karabayev has disagreed with this, noting that oil and gas processing will create added value of Kazakhstani hydrocarbons on the world market. Bolat Zhamishev is in sympathy with this. According to him, the development of oil and gas chemistry in Kazakhstan is one of the priorities outlined by the country’s leadership and the Head of State.

Following the meeting, the Chairman of the Public Council of Samruk-Kazyna JSC, Bolat Zhamishev, has stressed that the effectiveness of the information campaign should be assessed not by the number of people who came to the explanatory meetings, but by the number of open brokerage accounts.  

He has drawn attention to the need to ensure the technical readiness of systems for accepting applications from citizens, including at peak times. 

JSC NC KazMunayGas

As part of the awareness-raising work on the IPO program of JSC NC KazMunayGas, the Public Council of Samruk-Kazyna JSC has held an open meeting with the participation of external experts, heads of exchanges (KASE, AIFC, AIX), representatives of the public, associations of financiers and minority shareholders, investment bankers, economists, as well as the media. 

The main Agenda item is the JSC NC KazMunayGas IPO: prerequisites and status of preparation. Yernar Zhanadil, Managing Director for Development and Privatization of the Fund has been the reporter. «Samruk-Kazyna is conducting a campaign of awareness-raising meetings with citizens across the country to clarify information about plans and approaches to transfer the assets of the Fund Group to the competitive environment, and in particular, the IPO of large national companies. In Q4 this year, it is planned to hold the IPO of KazMunayGas on local stock exchanges - AIX and KASE, within which priority will be presented, first of all, to citizens of Kazakhstan. The Fund is always ready for an open dialogue with the public on issues of privatization and IPO of large companies of the Fund,» - he said.

The management of JSC NC KazMunayGas provided information about the company’s current activities, key production and financial indicators and growth prospects. «On the eve of the IPO, KazMunayGas has updated its development strategy and strategic development plan until 2031. Among the growth points of the company, I would like to note the active work in geological exploration. We see prospects in the development of exploration projects both onshore and offshore. In addition, it is planned to increase oil production at our large projects in Kashagan and Tengiz. It is worth separately noting the development of petrochemistry: a polypropylene production plant is at the launch stage, active work is underway on polyethylene and butadiene projects,» - Dauren Karabayev, Deputy Chief Executive Officer for Economics and Finance of JSC NC KazMunaiGas said. 

The meeting has been held in the format of an open dialogue. Each of those present could express their opinion about the IPO of KazMunayGas, as well as about the risks and opportunities of privatization in general. Members of the public were particularly interested in KMG’s development strategy in the coming years and plans for the future. 

One of the topics of discussion is KMG’s plans to develop oil and gas chemistry in Kazakhstan. A number of experts believe that the company should focus on mining, not on processing raw materials. Dauren Karabayev has disagreed with this, noting that oil and gas processing will create added value of Kazakhstani hydrocarbons on the world market. Bolat Zhamishev is in sympathy with this. According to him, the development of oil and gas chemistry in Kazakhstan is one of the priorities outlined by the country’s leadership and the Head of State.

Following the meeting, the Chairman of the Public Council of Samruk-Kazyna JSC, Bolat Zhamishev, has stressed that the effectiveness of the information campaign should be assessed not by the number of people who came to the explanatory meetings, but by the number of open brokerage accounts.  

He has drawn attention to the need to ensure the technical readiness of systems for accepting applications from citizens, including at peak times. 
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