On June 8, 2020, Samruk-Kazyna sold 275,496 Global Depositary Receipts (GDRs) and 109,504 Shares of JSC NAC “Kazatomprom” (“Kazatomprom”) at a price of 13.00 USD per 1 GDR and 5,230.81 KZT per 1 share to retail investors who are citizens of the Republic of Kazakhstan, solely through AIX. The retail-only placing opened on June 3 and closed on June 8, 2020.
The retail order book at AIX gained strong interest among domestic investors and was oversubscribed by almost three times.
As a result of the institutional and retail offers, Samruk-Kazyna raised aggregate gross proceeds of $211.6 mln, with around 35% of the overall demand coming through AIX.
CEO of AIX, Tim Bennett, commented:
“We are very pleased with the results of the offer. Gradual increase of the free float to 25% will positively impact the stock’s liquidity and enhance Kazatomprom’s attractiveness for investors. Retail participation in the equity market at AIX has grown strongly since our launch in November 2018. We see a significant increase in retail investment demand which is 5 times higher than during the previous SPO of Kazatomprom in 2019. It is a very promising sign for the development of the capital market of Kazakhstan.”
At the time of the initial public offering in November 2018, Samruk-Kazyna sold in aggregate 14.92% of Kazatomprom’s issued share capital on the AIX and LSE. Following a secondary placement in September 2019, the total free float increased to 18.72%. With the current secondary placement, the total free float of Kazatomprom is now equal to 25%.
JSC “Halyk Finance” was acting as sole coordinator and bookrunner for the retail offering on the AIX.
AIX was formed in 2017 within the Astana International Financial Centre development framework. AIX shareholders are AIFC, Goldman Sachs, the Shanghai stock exchange, the silk Road Fund, and NASDAQ, which also provides the AIX trading platform. The exchange operates within a regulatory environment based on the principles of English Law, thus providing a reliable investment environment. The mission of AIX is to develop an active capital market in Kazakhstan and the region by providing clear and favorable conditions for attracting financing to private and public businesses. AIX develops special segments for mining companies as well as infrastructure projects under the Belt and Road initiative. More details: www.aix.kz
AIFC. Astana International Financial Center (AIFC) was established on the initiative of Nursultan Nazarbayev, the First President of the Republic of Kazakhstan. The constitutional law establishing AIFC was signed on December 7, 2015. The aim of AIFC is to form a leading center of international financial services. The objectives of AIFC are to assist in attracting investments into the country’s economy, create an attractive environment for investment in financial services, develop the securities market of the Republic of Kazakhstan and ensure its integration with international capital markets. www.aifc.kz
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