Samruk Kazyna is about to gain access for its companies to international financial markets – Fund’s Chairman

29 October, 2019 16:42

Broad Chairman Akhmetzhan Yessimov of Samruk Kazyna took part in the celebrations of 70 years of Ulba Metallurgical Plant (UMP), a subsidiary of the Fund’s leading portfolio company KazAtomProm, as part of the working visit to the city of Ust-Kamenogorsk, the Fund’s press service informs.

Addressing the UMP leadership and employees, the Chairman deliberated on the upcoming IPO/SPO of the Fund’s major portfolio companies as well as on the perspectives of Samruk Kasyna’s privatization programme for 2016-20, endorsed by the Kazakh government.

“Gaining access to international financial markets demonstrates KazAtomProm’s international recognition, as well as allows for conditions for the company’s further development, corporate transparency and governance. KazAtomProm was the first Kazakh company to gain access to international financial markets. Based on that experience, the Fund Samruk Kazyna is about to gain access for the Fund’s other companies to international financial markets, which will certainly have a positive impact on the companies and the country’s economy as a whole,” the Chairman said.

The Fund’s head stressed that KazAtomProm is the world’s largest producer of uranium – 23% of the global initial uranium production, employing around 21 thousand people. After going public KazAtomProm’s shares went up, and the company’s value grew from $3 to $3.5B.

The existing technologies allow for 3600 tons of uranium to be processed each year, with the plans to further increase the amount of uranium being processed to 6000 tons.

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