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Kazatomprom responds to secondary offering

27 September 2019 12:57
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Kazatomprom responds to secondary offering

JSC National Atomic Company «Kazatomprom» acknowledges secondary placement of additional global depository receipts («GDR») by the Company’s majority shareholder, Joint-Stock Company «Sovereign Wealth Fund «Samruk-Kazyna», the press service of Kazatomprom informs.

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«In our meetings with investors, the majority of our discussions have revolved around the uranium market, and our leading position within it,» said Galymzhan Pirmatov, Chief Executive Officer of Kazatomprom. «However, we have also heard consistent feedback regarding the low trading volumes for Kazatomprom’s shares; we believe today’s development is a positive step toward improving those share trading volumes.

«We are pleased to see the continued interest in the Company. There was strong support for this transaction from both the international market, with a balanced combination of new and existing shareholders, and in the domestic market, through the sale of GDRs on the Astana International Exchange.»

At the time of the initial public offering in November 2018, Samruk-Kazyna free-floated approximately 15% of Kazatomprom’s issued share capital on the Astana International Exchange and London Stock Exchange. With the additional placement, the total free-float increases to about 18.8%. The decision to sell Kazatomprom’s GDRs in the public market was at the sole discretion of Samruk-Kazyna’s Board and Management.

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