Kazakhstan

Kazakhstan National Bank becomes shareholder of KazMunaiGas

UntitledNational Bank of Kazakhstan Republic will be among the shareholders of the national oil and gas company KazMunaiGas.

            Kazakhstan Fund of National Welfare Samruk-Kazyna, which owns 100% share block of shares of the company, will sell 10% plus 1 simple share of  KazMunaiBank to the National Bank at the price  fixed by the independent evaluator, but not below 750 billion tenge (187.45 tenge equals 1 USD).

            The decision was made by the Kazakhstan government on July 23, 2015. 58,420,748 regular shares of KazMunaiGas have been put up for sale.

National Company KazMunaiGas is Kazakhstan national operator of exploration, production, refining and transportation of hydrocarbons. 100% shares of KazMunaiGas are owned by the state through Samruk-Kazyna National Welfare Fund.