In September 2015 Kazakhstani Government announced that in furtherance to large-scale privatization program being realized in Kazakhstan over the last couple of years, 60 major state-owned companies will become private before 1 January 2018.
New wave of privatization is being realized over the last several years, and it includes hundreds of companies owned by largest holdings controlled by the state, such as National Welfare Foundation "Samruk-Kazyna" JSC ("Samruk"), National Management Holding "Baiterek" JSC and other, as well as companies owned directly by state. Many of these companies (most of which are rather minor) have already become private. At the same time, the intent of the Government to sell 60 major state-owned companies (the "Top-60") might be of particular interest to investors, since the list of companies will include basically the largest state-owned companies in Kazakhstan working in the area of extraction of natural resources, energy, banking, transportation and infrastructure.
Below we provide some general information about key principles and legal framework of privatization, as well as about the companies included to the privatization list.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.