IPO of National Atomic Company Kazatomprom under the State Privatization Programme
16 November 2018
Zan Hub acted as local legal advisor on one of the largest Kazakhstani initial public offerings (IPO) on the London Stock Exchange and the first-ever IPO on the newly established Astana International Exchange (AIX), a stock exchange of the Astana International Financial Centre.
Zan Hub team led by partners Mr Semion Issyk and Mr Aituar Madin, jointly with Skadden, Arps, Slate, Meagher & Flom (UK) LLP and Mr Kirill Zenin, who acted as a special counsel, advised Samruk-Kazyna, as the selling shareholder, and Kazatomprom, the world's largest uranium producer, as issuer, at all stages of the IPO, including assistance with the drafting of an offering memorandum, assistance with corporate and regulatory approvals required for the transaction in Kazakhstan, amendment of securities legislation and assistance with the closing of the transaction.
Credit Suisse and J.P. Morgan acted as joint global coordinators and joint bookrunners. China International Capital Corporation, Halyk Finance and Mizuho International acted as joint bookrunners, and Numis as co-manager.
With approximately 20 percent of total global uranium primary production in 2017, Kazatomprom is the world's largest producer of uranium. Its float is the first dual-listed IPO on the LSE and AIX, and the first Kazakhstani privatization by way of an international IPO under the Kazakhstan Privatization Programme 2016-2020.
The offering comprised a sale of ordinary shares and global depositary receipts by Samruk-Kazyna, a sovereign wealth fund of the Republic of Kazakhstan. Kazatomprom's ordinary shares have been admitted to trading on the AIX, and the global depositary receipts representing its ordinary shares have been admitted to trading on the main market for listed securities of the LSE and AIX.
Zan Hub team led by partners Mr Semion Issyk and Mr Aituar Madin, jointly with Skadden, Arps, Slate, Meagher & Flom (UK) LLP and Mr Kirill Zenin, who acted as a special counsel, advised Samruk-Kazyna, as the selling shareholder, and Kazatomprom, the world's largest uranium producer, as issuer, at all stages of the IPO, including assistance with the drafting of an offering memorandum, assistance with corporate and regulatory approvals required for the transaction in Kazakhstan, amendment of securities legislation and assistance with the closing of the transaction.
Credit Suisse and J.P. Morgan acted as joint global coordinators and joint bookrunners. China International Capital Corporation, Halyk Finance and Mizuho International acted as joint bookrunners, and Numis as co-manager.
With approximately 20 percent of total global uranium primary production in 2017, Kazatomprom is the world's largest producer of uranium. Its float is the first dual-listed IPO on the LSE and AIX, and the first Kazakhstani privatization by way of an international IPO under the Kazakhstan Privatization Programme 2016-2020.
The offering comprised a sale of ordinary shares and global depositary receipts by Samruk-Kazyna, a sovereign wealth fund of the Republic of Kazakhstan. Kazatomprom's ordinary shares have been admitted to trading on the AIX, and the global depositary receipts representing its ordinary shares have been admitted to trading on the main market for listed securities of the LSE and AIX.
