NUR-SULTAN, KAZAKHSTAN: Joint-Stock Company Samruk-Kazyna has, announced its intention to sell approximately 6.5 million global depositary receipts (GDRs) representing interests in ordinary shares of the Company. The Placing Securities represent approximately 2.5% of the Company’s issued share capital.

The Placing Securities are being offered by way of an accelerated book-build through the London Stock Exchange (LSE) facilities and the AIX facilities pursuant to the rules and regulations of the AIX, which will be launched immediately following this announcement.

The offering is being made to institutional investors outside the US and to qualified institutional buyers in the US. In addition, at least 20% of the total number of Placing Securities will be offered to institutional and retail investors on Kazakhstan’s domestic market through the AIX Placing.

Any of the Company’s shares and global depositary receipts held by Samruk-Kazyna which are not sold in the Placing will be subject to a 180-day lock-up, subject to customary exceptions. The current ownership interest of Samruk-Kazyna in the Company is approximately 85%, and assuming all of the Placing Securities are sold, Samruk-Kazyna will continue to hold approximately 82.5% of the issued share capital of the Company.

J.P. Morgan Securities plc is acting as sole global coordinator for the Placing and joint bookrunner in connection with the LSE Placing, Subsidiary organization of Halyk Bank Kazakhstan “Halyk Finance” JSC is acting as coordinator of the AIX Placing and joint bookrunner of the AIX Placing, and Renaissance Capital is acting as joint bookrunner for the LSE Placing and the joint bookrunner for the AIX Placing, all of whom are responsible for arranging the offering for both international and domestic investors.

The final number of the Placing Securities to be placed and the placing price will be agreed by Samruk-Kazyna and the Global Coordinator and Bookrunners following completion of the bookbuild process, and the results of the Placing will be announced as soon as practicable thereafter. The timings for the close of the bookbuild process, pricing and allocations are at the absolute discretion of Samruk-Kazyna and the Global Coordinator and Bookrunners.

The Placing is a part of the Complex Privatisation Plan for 2016-2020, as approved by the Government of the Republic of Kazakhstan, under which the Company was identified as a portfolio company of Samruk-Kazyna to be partially privitased.

It was further resolved by the Government of the Republic of Kazakhstan to dispose of up to 25% of the share capital of the Company. Following this, Samruk-Kazyna offered and sold Shares and GDRs representing in aggregate 15% of the Company’s share capital in an initial public offering in November 2018, pursuant to which its GDRs were admitted to the Official List of the UK Financial Conduct Authority and to trading on both the LSE and the AIX. Samruk-Kazyna now intends to sell additional GDRs pursuant to the Placing.

Edited by Nayyar Iqbal