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National Bank to sell its stake in KASE to RFCA
Almaty, June 10, 2008
The Kazakh National Bank is going to sell its 12% stake in the Kazakhstan Stock Exchange (KASE) to JSC Regional Financial Center of Almaty (RFCA).
A copy of the National Bank's resolution dated May 26 is published on KASE website.
According to this document, the managing board of the National Bank made a decision to sell the bank owned 54 ordinary shares in KASE to RFCA at a book value of 2,607,000 tenge (120.61/$1) per share, the total value of the deal coming to 140,778,000 tenge.
KASE says that as at June 1 this year the number of shares placed by the stock exchange was 450, the number of shareholders 73 only two of them holding stakes exceeding 5% - the National Bank (12%) and Caspian Bank (5.3%).
KASE was organized in 1993 and was a non-commercial organization until recently.