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Eurasia
May 11, 2018
sales of smaller state-owned entities.
While what happens to the smaller companies earmarked for sale should not impact the
IPOs, the lack of clear direction demonstrated within the privatisation plan does not bode
well for them either. Signs of disorganisation have already been clear for a while now. The IPOs were originally set to launch in 2017, but Kazakhstan’s sovereign wealth fund Samruk- Kazyna has continuously postponed its goals or has been unclear about its future deadlines. It seems to have settled on floating two companies
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in the fourth quarter of 2018 — national carrier Air Astana and the world’s second largest uranium miner Kazatomprom, though reports citing anonymous sources suggest international listing for the latter company might get postponed again.
Other IPOs of large state-run companies possibly planned for this year include Kazakhtelecom, the country's largest telecom operator. The rest of the IPOs — namely of KazMunaiGas, Kazpost, Samruk Energy and Kazakhstan Temir Zholy (KTZ) railway operator — are tentatively set for 2019-2020.
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