Baku, Azerbaijan, Dec. 25
By Rashid Shirinov – Trend:
House Construction Savings Bank of Kazakhstan (HCSBK) plans to make an IPO in 2019, said the Chairman of the Bank’s Board Lyazzat Ibragimova, Trend reports citing Kazakh media.
"Regarding privatization in 2019, the possibility of making an IPO is being considered, as the company shows good performance," she said.
Ibragimova noted that in 2018 HCSBK could not find a potential investor.
"This is due to a number of factors, such as general uncertainty in the markets and currency risks. Since we have all the assets in tenge and there is a 100-percent tenge liquidity, the question arises about what will happen to the exchange rate," she said.
Ibragimova added that only one privatization option is considered: where a potential investor will not be able to own a controlling stake.
House Construction Savings Bank of Kazakhstan is the only bank in the country that implements the system of house construction savings. The sole shareholder of the bank is Baiterek National Management Holding.
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