Samruk-Kazyna plans to sell Alliance Bank stake to Bulat Utemuratov for 1.49 bln tenge

Date: 03:09, 30-04-2014.

Astana. April 30. KazTAG - Samruk-Kazyna Sovereign Welfare Fund plans to sell its stake in Alliance Bank for Т1 491 834 894, reads the notification about joining to sale of ordinary and privileged shares of the bank.

"According to the document the fund notifies about its intention to sell 2 182 010 ordinary shares to a third party which make up 16% of totally listed ordinary shares of the bank (that is 23.88% ordinary shares of the bank in the SWF property) and 419 090 privileged shares of the bank which make up 16% of the total volume of listed shares of the bank  (that is 23.88% of privileged shares of the bank in the SWF property," reads the message.

The fund plans to sell ordinary and privileged price for 537.54 tenge per 1 share,

As reported, in December 2013 the fund reported that it agreed to sell 79.88% of ordinary shares in Temirbank and 16% of ordinary and privileged shares to Bulat Utemurarov.  As a result the fund will remain controlling shareholder of Alliance Bank with 51% of ordinary and privileged shares.

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