IPO/SPO
What is an IPO?

An IPO (Initial Public Offering) is the first public offering of a company’s shares, also called an issue. The issuing company issues its shares on the market for the first time, and a wide range of investors buy them.

The IPO allows the company to attract significant financial resources from various investors on fairly favorable terms. Investors receive a small “share” of the company’s business and actually become co-owners of this company.

After entering the stock exchange, the status of the company changes — from private, it becomes public one, and its shares are freely traded on the stock exchange and can be bought by anyone.

What is an SPO?

SPO (Secondary Public Offering) - public offering of shares owned by existing shareholders. As a rule, to the founders of the company or venture funds.

SPO is an offer of already existing shares owned by someone taken from the secondary market. As a rule, either the founders of the company, that is, the original shareholders, or venture funds, which fix their profits in this way, sell their securities through SPO.

SPO, unlike IPO, does not affect the size of the authorized capital of the company. However, at the same time, such an offering still makes the company public one, that is, one whose shares are freely traded on the securities market. In addition, the number of shareholders increases, which makes the shares liquid.

IPO/SPO Candidate Companies
  • 90,42%
    Ownership share of the Fund
  • 51%
    Ownership share of the Fund
  • 90%
    Ownership share of the Fund
  • 100%
    Ownership share of the Fund
  • 100%
    Ownership share of the Fund
  • 100%
    Ownership share of the Fund
JSC NC KazMunayGas is the leading vertically integrated oil and gas company in Kazakhstan.
Strategic perimeter IPO JSC NC KazMunayGas
  • Exploration and production
  • Oilfield services
  • Supporting activities
  • Processing and transportation
  • Companies for legal/financial structuring in the IPO perimeter
Exploration and production
  • Embamunaigas JSC
  • Karazhanbas Munay JSC
  • Ozenmunaigas JSC
  • Mangistaumunaigas JSC
  • Kazakhturkmunai LLP
  • Kazakhoil Aktobe LLP (50%)
  • PetroKazakhstan Inc. (33%)
  • LLP JV Kazgermunai (50%)
  • Ural Oil and Gas LLP
  • Tengizchevroil LLP (20%)
  • Caspian Oil and Gas Company LLC (50%)
  • Karachaganak Petroleum Operating B.V.
  • PetroKazakhstan Overseas Services Inc.
  • PetroKazakhstan Ventures Inc.
  • Turgay-Petroleum JSC (50%)
  • Kolzhan LLP
  • Cheltenham Group LTD
  • TUZKOLMUNAIGAS OPERATING LLP
  • PetroKazakhstan Transportation Services LLP
  • PetroKazakhstan Kumkol Resources JSC
  • Central Oil and Gas Company OJSC (50%)
  • Al-Farabi Operating LLP (50.01%)
  • KMG - Ustyurt LLP (50%)
  • Kurmangazy Petroleum LLP
  • Zhenis Operating LLP (50%)
  • Becturly Energy Operating LLP (50%)
  • Isatai Operating Company LLP (50%)
  • Urikhtau Operating LLP
  • N Operating Company LLP
  • Zhambyl Petroleum LLP
  • KMG-Karachaganak LLP
  • North Caspian Operating Company N.V. (16.88%)
Oilfield services
  • KMG Drilling & Services LLP (99.69%)
  • Ken-Kurylys-Service LLP
  • Oil Construction Company LLP
  • Oil Services Company LLP
  • KMG Nabors Drilling Company LLP (49%)
  • KMG Parker Drilling Company LLP (49%)
  • Oil Transport Corporation LLP
  • Mangistauenergomunai LLP
  • Munaitelekom LLP
  • Department of the water production and transportation LLP
  • OzenMunai Service LLP
  • KMG EP-Catering LLP
Supporting activities
  • KazRosGaz LLP (50%)
  • TH KazMunaiGas N.V.
  • KMG - Security LLP
  • KMG Engineering LLP
  • Kazakhstan Energy Reinsurance Company LTD
  • Butadiene LLP (25%)
  • Ak Su KMG LLP
  • KMG Green Energy LLP
  • Grace Kazakhstan Catalysts LLP (12.5%)
  • RTI – ANPZ LLP (30%)
  • Professional Geo Solutions Kazakhstan LLP (50%)
  • KazMunayGas – Aero LLP
  • Air Liquide Munay Tech Gases LLP (25%)
  • Air Liquide Karabatan Tech Gases LLP
  • KMG Automation LLP (49%)
  • KMGEP UK Limited
  • KMG-Kumkol LLP
  • Petrotrans Limited
Processing and transportation
  • Pavlodar Oil Chemistry Refinery LLP
  • Atyrau Refinery LLP (99.53%)
  • LLP JV Caspi Bitum (50%)
  • Kazakh Gas Processing Plant LLP (KazGPP)
  • PETROSUN LLP
  • LLP NMSC KazMorTransFlot
  • Kazakhstan Petrochemical Industries Inc.
  • Main Water Pipeline LLP
  • Kazakhstan - China Pipeline LLP (50%)
  • MunaiTas North-Western Pipeline Company LLP
  • Batumi Oil Terminal OJSC
  • KazTransOil JSC (90%)
  • Caspian Pipeline Consortium – K JSC (20.75%)
  • Caspian Pipeline Consortium – R JSC (20.75%)
Companies for legal/financial structuring in the IPO perimeter
  • Cooperative KazMunaiGaz U.A.
  • Mangistau Investment B.V.
  • KMG Kashagan B.V. (50%)
  • KMG EP NETHERLANDS ENERGY COÖPERATIEF U.A.
  • Kazakhstan Pipeline Ventures JSC
  • KMG EP Energy Ltd
  • KMG Finance Sub B.V.
  • COÖPERATIEVE KMG EP U.A.
  • KazMunaiGaz PKI Finance B.V.
  • Ural Group Limited (50%)
  • Citic Canada Energy Limited (50%)
  • Citic Canada Petroleum Limited (50%)
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The Air Astana Group of Companies is the leading air carrier in Central Asia.
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KEGOC Joint Stock Company is a company that performs the functions of a system operator and an operator of the main electric networks of Kazakhstan.
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Samruk-Energy JSC was created to develop and implement a long-term state policy for the modernization of existing and commissioning of new generating capacities.
Strategic perimeter IPO Samruk-Energy IPO
  • HPP
  • WPP
  • SPP
  • Distribution and sales
HPP
  • Shardara HPP JSC (100%)
  • Moinak HPP JSC (100%)
  • Bukhtarma HPP JSC (90%)
  • Shulba HPP JSC (92.14%)
  • Ust-Kamenogorsk HPP JSC (89.99%)
  • Kazhydrotech Energo LLP (100%)
  • Teploenergomash LLP (95%)
WPP
  • FWPP LLP (100%)
  • Ereymentau Wind Power LLP (100%)
  • Energiya Semirechiya LLP (25%)
SPP
  • Samruk-Green Energy LLP (100%)
Distribution and sales
  • Alatau Zharyk Companiyasy JSC (90.29%)
  • Almatyenergosbyt LLP (100%)
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Joint Stock Company “National Company “QazaqGaz” is the main gas company of the Republic of Kazakhstan, representing the interests of the state, both in the domestic and foreign gas market.
Strategic perimeter IPO JSC NC QazaqGaz IPO
  • Gas transportation
  • SPP
  • Distribution and sales
Gas transportation
  • JSC NC QazaqGaz
  • Intergas Central Asia JSC
  • Beineu-Shymkent Gas Pipeline LLP (50%)
  • Asian Gas Pipeline LLP (50%)
  • KazTransGas Aimak JSC
SPP
  • Amangeldy Gas LLP
  • Otan Gas LLP (50%)
Distribution and sales
  • Qazaq Gas Qurylys LLP
  • Khorgos - Asian Gas Pipeline LLP
  • AvtoGazAlmaty LLP
  • KazTransGaz Onimderi LLP
  • KTG Finance B.V.
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JSC NC Kazakhstan Temir Zholy is the largest operator of the main railway network of Kazakhstan.
Strategic perimeter IPO JSC NC KTZh IPO
  • Vertically integrated transportation
  • Passenger transportation
  • Supporting activities
  • Logistics activities
Vertically integrated transportation
  • Kaztemirtrans JSC
  • KTZh - Freight Transportation LLP
  • Kedentransservice LLP
  • Port Kuryk LLP
Passenger transportation
  • KTZ-Passenger Locomotives LLP
  • Passenger transportation JSC
  • Wagonservice JSC
Supporting activities
  • Paramilitary Railway Security LLP
  • Temirzholsu LLP
  • Transtelecom JSC
Logistics activities
  • United Transport and Logistics Company – Eurasian Rail Alliance JSC (33.33%)
  • KIF WAREHOUSES LLP (51%)
  • Xinjiang KTZ International LogisnicsCo.LTD
  • KTZE-KhorgosGateway LLP (51%)
  • KTZ ExpressHongKong OOO
  • YuXinOu(Chongqing) LogisticsCo., Ltd (16.30%)
  • China-Kazakhstan International Logistics Company LLC (49%)
  • KTZ-Express JSC
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