1. Home
  2. Products & Services
  3. Segments
  4. Kazakhstan Privatization Program

Kazakhstan Privatization Program

Privatization Program in Kazakhstan is carried out to strengthen the foundations of a market economy, and the main idea of this program is to give impetus to the further development of private business and reduce the state’s share in the economy. More information on Privatization Program here.

The Kazatomprom national atomic company, one of the world’s largest uranium producers, became the first company to be listed on AIX and LSE in 2018 within the framework of Privatization Program. Later on, Kazatomprom held two SPOs which resulted in a 25% free-float of Company’s shares.

In 2022 initial public offering (IPO) of the National Company KazMunayGas, the leading vertically integrated oil and gas company in Kazakhstan, was held on the AIX and KASE and became the largest ever IPO on Kazakhstan’s stock market in terms of the number of bids received and final sales volume. The IPO demonstrated the high potential of Kazakhstan’s market, as well as a significant increase in investment literacy and activity among citizens of Kazakhstan. The focus of the AIX was on the retail investor base where direct subscription was available through the AIX Tabys application and outlets of KazPost JSC. Trading of KMG shares, started on the AIX on December 8, 2022.

In November 2023 the ordinary shares of KEGOC JSC, the national electricity grid operating company, have been listed on the AIX. About 54% of SPO subscriptions at the AIX were received from retail investors via our direct subscription solution at Tabys app and mobile applications of banking apps amounting to KZT2.2 bn.

Other companies now preparing for IPOs include Air Astana JSC, the largest local airline, and QazaqGaz JSC, national gas company of Kazakhstan.

AIX has developed a direct subscription for participation in IPOs/SPOs of national companies through the Tabys mobile investment application, which allows to submit orders to purchase shares without opening a brokerage account. Tabys is used by Samruk-Kazyna JSC as an official tool for retail investors to participate in IPOs and SPOs.