Orders to buy KazTransOil shares reach 1 billion tenge in Peoples’ IPO

    Kazakhstanis have opened almost 30,000 brokerage accounts as part of the People’s IPO program so far. Orders to purchase KazTransOil shares now total one billion tenge in value, professional traders at the Kazakhstan Issuers Forum in Almaty said.
    Managing Director of the Samruk-Kazyna National Welfare Fund JSC Peter Howes said, “There were already 24 thousand accounts opened in early November. A few days later, there were 26 thousand accounts since the start of subscription. According to recent data, a 2 thousand more accounts have opened within the last few days. And I expect the number to continue to grow, especially since KazTransOil is currently holding a road show in all regions of the country”.
    
    Chairman of Board of Kazkommerts Securities, KazTransOil Consultant Sholpan Ainabayeva added,
    “I can say the public activity is much higher than was originally expected. There are regions with crowded halls and regions where we are being asked very interesting questions. Some people are comparing the People’s IPO with the privatization program through investment vouchers. There are extensive efforts to analyze the program and raise awareness on a simple and accessible level to explain the difference – that the People’s IPO program gives an opportunity to be part owner of the business, to obtain additional income, alternative sources of income for the general public and this is being done based on the example of the best issuers,” Caspionet said.