June 9, 2017 / 12:53 PM / 2 months ago

BRIEF-Bank of Astana launches IPO

1 Min Read

June 9(Reuters) - BANK ASTANY (BANK OF ASTANA):

* SAID ON THURSDAY ITS BOARD OF DIRECTORS HAS DECIDED TO LAUNCH PUBLIC OFFERING OF THE BANK'S COMMON SHARES ON THE KAZAKHSTAN STOCK EXCHANGFE (KASE)

* Indicative Price Has Been Set at 1,150 Tenge Per Share

* Plans to Offer 2.1 Million Shares for 2.5 Billion Tenge

* ITS SHAREHOLDER, TOKHTAROV OLZHAS, WILL ACQUIRE THE BANK'S SHARES FOR 2 BILLION TENGE UNDER PRE-EMETIVE RIGHT

* THE TRADING IN THE BANK'S SHARES IS EXPCTED TO START AT THE END OF JUNE

* the Order Book Will Be Open from June 12 to June 26

* THE PROCEEDS FROM THE OFFERING WILL BE USED TO FURTHER DEVELOP PRODUCTS PORTFOLIO, IT-INFRASTRUCTURE AND GROW CUSTOMER BASE

* FREEDOM FINANCE IS THE UNDERWRITER AND MARKET-MAKER OF THE OFFERING, EURASIAN CAPITAL ACTS AS CO-UNDERWRITER

Source texts - bit.ly/2t1AEok , bit.ly/2sKOOLs

Further company coverage: (Gdynia Newsroom)

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