KEGOC announced the launch of SPO

On September 26, 2023, the General Meeting of KEGOC shareholders decided to conduct a secondary share offering (SPO). As part of the SPO KEGOC will offer 15,294,118 ordinary shares, and as a result of the placement the share of Samruk-Kazyna JSC will remain at least 85% of the total number of KEGOC shares.

SkyBridge Invest JSC acts as coordinator and bookrunner of this transaction together with Freedom Finance JSC and Halyk Finance JSC.  The co-underwriters are BCC Invest JSC and Jusan Invest JSC.

Today, KEGOC holds a key position in Kazakhstan's electricity transmission system and plays an important role in ensuring the stability of the national electricity system. KEGOC's SPO will provide investors with a unique opportunity to invest in a structure that has reliable and stable returns. For 2022, the size of payments to KEGOC shareholders amounted to more than 112.8% of net profit, which emphasizes the attractiveness of investing in the Company. The Company's dividend policy stipulates a dividend payout of at least 60% of net profit.

The shares will be offered at offering price of KZT 1,482 per share with settlements in tenge. Subscription for the shares will be made on KASE and MFCA Exchange (AIX).

Applications from existing shareholders within the frames of realization of pre-emptive purchase right* will be accepted from September 28 to October 27, inclusive. Existing shareholders will be able to submit applications through brokers or by applying directly to KEGOC. Each existing shareholder has the right to purchase shares in the ratio of 17:1.                                                                                                            

Applications from new investors will be accepted from October 16 to November 2, 2023, inclusive.

Allocation of applications from new investors will be approved on November 7, 2023, and settlement will take place on November 8 and 9, 2023.

Trading on AIX is expected to open on November 10

SkyBridge Invest JSC is ready to provide support to both current and new investors in the process of participating in the SPO of KEGOC. Please contact your personal managers or sales@sbinvest.kz.

*Current shareholders holding 17 or more shares in KEGOC will be able to exercise their pre-emptive right to purchase shares in the additional share offering. Payment for the shares acquired by the right of pre-emptive purchase is made by the shareholder within 5 working days after the date of application for their purchase, but not later than November 3.