Kazakh oil group finalising plans for $6.5bn IPO | Financial Times

Kazakh oil group finalising plans for $6.5bn IPO | Financial Times:

Kazakhstan’s state-run oil and gas company KazMunaiGas is finalising plans for an initial public offering that could raise as much as $6.5bn, in what could be Central Asia’s largest-ever stock market listing.

Bankers are in Kazakhstan this week pitching for work on the IPO, which will value the company at between $25bn and $26bn and seek to list 20-25 per cent of its shares, two people with knowledge of the plans told the FT.

The country plans to list the company on the London Stock Exchange and a local bourse, either in Almaty or Astana, but the people cautioned that the process was slow moving and a listing could be in late 2019.