Yernar Zhanadil, the Managing Director for Development and Privatization of Samruk-Kazyna JSC said that KazMunayGas will be launched on the stock market before the December holidays. 

“The work has been carried out in almost all regions of Kazakhstan to clarify the procedures for investing in the stock market, as well as plans for the withdrawal of JSC NC KazMunaiGas for IPO. Usually, the acceptance of IPO applications lasts from 3 to 7 days. But considering that many Kazakhstanis are taking their first steps into the stock market, we have increased the deadline for accepting applications to 3-4 weeks. We plan to close the deal on the IPO of KazMunayGas in the first half of December”, - Yernar Zhanadil said. 

Also, Dauren Karabayev, the Deputy CEO – Financial Director of JSC NC KazMunayGas, said that on the eve of the IPO, KazMunayGas has updated its development strategy until 2031, further development of exploration projects is planned. 

“We plan to increase oil production at the large Tengiz and Kashagan projects. Intensive work is underway on polyethylene and butadiene projects. In addition, special attention is paid to the development of petrochemistry. The polypropylene production plant will be launched in the near future. In addition, in order to increase investment attractiveness, in addition to mining projects, we will take special measures that will give citizens of the state more confidence in dividends. We are talking about the minimum amount of dividends for the next three years, which will be announced before the IPO”, - Dauren Karabayev said. 

Dastan Adikhodzhayev, the Director of the Privatization and Assets Restructuring Department of Samruk-Kazyna JSC also pointed out significant growth points of KazMunayGas JSC, which will increase the investment attractiveness of the company. 

“We position the eguity story of KazMunayGas not only as a dividend story, although the company is mature and it is expected that with favorable oil prices, it will be able to provide a solid dividend flow, but it is also a growth story, because there are significant growth points, such as exploration projects with huge potential, petrochemistry and, of course, the planned expansion in Tengiz, and possibly Kashagan”, - Dastan Adikhodjayev said. 

The meeting was held in the format of an open dialogue. Participants and media representatives received answers to their questions. Recall that the Head of State Kassym-Jomart Tokayev at the meeting of the Council for Governance of the Astana International Financial Center on June 27, 2022 noted the need to expand the possibility of participation of ordinary citizens in the IPO. 

“Ordinary citizens of our country should be able to purchase shares of national companies and receive their dividends from investments. It is in this way that the investment culture of the population is formed. Participation in the IPO should become available to absolutely all residents of Kazakhstan. And for this we need new digital solutions that eliminate paperwork and bureaucracy”, - Head of State Kassym–Jomart Tokayev said. To learn more about the IPO and the Fund's privatization program as a whole, please visit the website ipo.sk.kz