Kazakh Government to decide on future development of People's IPO Program

ASTANA. KAZINFORM - The Government of Kazakhstan is expected to present a proposal on the development of the People's IPO Program for the President's consideration.

According to Prime Minister of Kazakhstan Serik Akhmetov, the proposal will be put forward in March 2014.

"Demand for KazTransOil's shares within the People's IPO Program has overtaken supply twofold, as 34 000 people are now shareholders of the company. The stock value has more than doubled over a short period of time," S. Akhmetov said at the enlarged session of the Samruk-Kazyna National Welfare Fund on Wednesday.

The Premier underscored it was crucial to step up further development of the program.

"This issue should be explored thoroughly by the Ministry of Economy, Samruk-Kazyna Fund together with the Prosecutor General's Office by March. The proposal should be submitted to the President early next month," he added in conclusion.