Kazakhs Get Gas Pipe Funds

摘要

Kazakh national oil company Kazmu- naigas (KMG) is to increase its number of authorized shares by 24 million to secure government funding for a key gas pipeline. KMG said the decision was made last month by the management board of the company's sole shareholder, Kazakh sover- eign wealth fund Samruk-Kazyna. It envi- sions placing the ordinary shares at a price of 500 tenge ($3.39) each to raise a total of 12 billion tenge ($81.3 million), but gave no time frame for the action. Samruk recently ruled out the prospect of an initial public of- fering (IPO) of KMG in the near future as the company continues to raise money through bond issues (IOD Nov.4,p9).