Shares of Kazakhtelecom Divested from EPSF's Portfolio

Shares of Kazakhtelecom Divested from EPSF's Portfolio

Let's Dive Into the Latest Kazakhtelecom Sale by EPF

It seems ol' EPF (Employees' Pension Fund) has offloaded all shares and depositary receipts of Kazakhtelecom. According to their February 2021 report, here's the skinny:

• Kazakhtelecom's ordinary shares were worth a whopping 10.216 billion tenge.
• Preferred shares amounted to a cool 240.624 million tenge.
• Depositary receipts added $23,456.59 to the kitty.

A peek at the fund's portfolio now reveals only Kazakhtelecom bonds maturing in 2026, worth a tidy 38.72 billion tenge as of February 1, 2021.

But here's the juicy bit: the plan to nab a 10% stake in Kazakhtelecom's ordinary shares for EPF's pension assets, initially scheduled to wrap up by year-end 2020, got put on ice. The shares ain't going into a bustling market until 2024, ya hear?

Why the delay, you ask? Well, it seems the folks at EPF wanna ensure complete transparency and fair competition in the privatization process. Fair play all around!

Apparently, the new timeline sets the stage for a crackin' competitive bidding process come autumn 2023. That gives 'em ample time to whip the ol' bidding process into shape before the share sale goes down. Keep an eye on this one!

Wanna know more behind-the-scenes beans? Drop me a line, and I'll spill the tea! 🍵💋

In light of the delayed acquisition of Kazakhtelecom's ordinary shares by EPF, there may be opportunities for other finance-focused entities to enter the market for investing in the business sector. EPF's intention to foster transparency and fair competition in the privatization process suggests that the investing landscape for Kazakhtelecom could change significantly by 2024.

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