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KAZAKHSTAN-COMPANIES-IPO-FORECAST
PBN Company expects Kazakh IPO expansion in 2008
Almaty. February 29 2008
PBN Company forecasts a further expansion of Kazakh IPO this year.
The external factor has slightly changed the attitude of foreign investors, however, the situation in Kazakhstan in general is considered to be stable despite some alarm signs, Managing Director of PBN Kazakhstan Arman Moldakhmetov told a Thursday press conference in Almaty. "We expect IPO will growth in 2008 as well," according to him.
Thus, a number of Kazakh companies successfully held IPOs last year despite a global financial turmoil that affected the Kazakh market as well.
He underlined that this testifies to investors' confidence in the Kazakh market and Kazakh companies.
As for the prospects of Kazakh companies on the market capital in 2008, specialists opine that those related to the infrastructure, agriculture and alternative energy sources would shoot out their cuffs.
In this regard, they specified Aktau Port [on the Caspian Sea in Mangistau oblast of Kazakhstan] as enjoying a significant potential.
At the same time, experts do not rule out an inauguration IPO of some Kazakh company in Hong Kong.
Meanwhile, Senior Vice President of PBN Europe Trevort Barton indicated that the financial community in London is upbeat about Kazakh companies and Almaty development as a regional financial hub.
According to earlier reports, PBN Company forecasts CIS companies will raise $40 bl within make 40 IPOs.
Source: Interfax Kazakhstan