Kazakhstan launches an IPO for KazMunayGaz in 2022

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Kazakhstan plans to conduct an initial public offering at national oil company KazMunayGaz in 2022, Kazakhstan’s sovereign wealth fund director (Samruk Kazyna) said on Wednesday after abandoning previous plans to list KazMunayGaz abroad this year, due to the pandemic and falling oil prices, informs Reuters, according to Agerpres.

Rompetrol is the main brand of the KMG International group, owned by the national oil and gas company of Kazakhstan, KazMunayGaz.

“We understand that investors in the oil and gas sector are primarily interested in dividends,” Samruk Kazyna’s chief operating officer, Almasadam Satkaliyev, told a news briefing. “We will closely monitor the market and the price of oil – which will be the main factors,” Satkaliyev added.

Owned by KazMunayGaz Kazakhstan, KMG International is one of the most important economic players in Romania, following the acquisition of Rompetrol.

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