Kazakh oil pipeline firm may raise $199mn in "People's IPO"

ALMATY: Kazakhstan's oil pipeline monopoly KazTransOil plans to raise 30 billion tenge ($199 million) via an initial public offer (IPO) as part of the Central Asian nation's "People's IPO" programme, a senior sovereign wealth fund official said on Friday.

The IPO is set to be held by the end of this year, Kuandyk Bishimbayev, deputy head of the sovereign wealth fund, Samruk-Kazyna, told Reuters.

The state, represented by Samruk-Kazyna, owns a 100 percent stake in KazTransOil through its parent company, national oil and gas firm KazMunaiGas.