The Kazakh Government plans to realize an additional capitalization of banks of Kazakhstan by offerings of ordinary and preference shares amounting to USD 5 bln. The Kazakh Prime Minister’s press service made it public at a session, Kazinform reports.
A right of first refusal of new ordinary and preference shares will be accorded to current stockholders. It will let them ensure the additional capitalization of the banks. It is noted that “in the case of an impossibility of the banks’ capitalization by the current stockholders, the state is ready to become a stockholder of the banks”, the press release notes.
As it was emphasized in the press release, the state does not plan to get a controlling stake of any bank. It is expected that following up the results of this plan 25 per cent of shares carrying voting rights of the four banks – “Halyk Bank”, “BTA Bank”, “Alliance Bank” and “Kazkommertsbank”.
It is expected that the state interests will be represented by the National Welfare Fund “Samruk-Kazyna”.
