January 23, 2018 / 7:17 AM / a year ago

Kazakh KMG EP GDR buyback offer declared unconditional

ALMATY, Jan 23 (Reuters) - Kazakh oil producer KazMunaiGas Exploration and Production (KMG EP) on Tuesday declared its offer to purchase its own global depository receipts unconditional, another step towards its delisting.

The offer had previously been conditional on receiving acceptances from 39.4 percent GDR holders. As of Jan.22, about 87 percent accepted the offer, KMG EP said in a statement. KMG EP’s delisting could pave way for the listing of its parent firm, state-owned National Company KazMunayGaz.

Reporting by Olzhas Auyezov; editing by Katya Golubkova

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