UPDATE 1-Emirates' Alnair raises Kazkommertsbank stake

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ALMATY, June 20 (Reuters) - United Arab Emirates' Alnair Capital Holding has bought 8 percent in Kazakhstan' Kazkommertsbank (KKGByq.L) KKGB.KZ and plans to raise its stake to more than 25 percent, the bank said on Friday.

"Alnair currently owns 8.03 percent of the ordinary share capital of Kazkommertsbank and has entered into binding agreements to acquire a further 17.12 percent of the ordinary share capital of Kazkommertsbank, conditional on receiving the necessary regulatory approvals," Kazkommertsbank said.

The bank did not say how much Alnair, part of an investment group established with capital from Sheikh Tahnoon Bin Zayed Al Nahyan of Abu Dhabi, was paying for the stake.

Kazkommertsbank Chairman Nurzhan Subkhanberdin and the European Bank for Reconstruction and Development [EBRD.UL] will retain their stakes in Kazkommerts which is one of the largest banks in Kazakhstan.

About 19.3 percent of Kazkommertsbank shares will remain in free float, the bank said. (Writing by Olzhas Auyezov; Editing by David Holmes)