Kazakhstan national company Kazatomprom intends to offer 15% of its market value in the form of shares on Astana AIX and Depositary receipts on LSE. The securities placed in London will be available on EXANTE platform from the very fist day of trading.
"Kazatomprom's IPO in London is a positive event, as LSE has a certain reputation. A company that chooses the London Stock Exchange shows that it is ready to play by open international rules and welcomes transparency”, comments EXANTE analyst Victor Argonov. “The drop in interest toward nuclear energy is rather an overreaction, since, after the Fukushima accident, uranium prices fell, but demand remained high. Now many consider uranium undervalued and forecast the price to rise in the coming years. Currently, more than 50 new modules are being built at existing nuclear power sites, respectively, the need for fuel will grow”, Mr. Argonov said.
The initial share price is expected to be announced November 13. On November 14, trading in the AIX secondary market is scheduled. Trading GDR on LSE is scheduled to begin on 16 November 2018. The Issuer is offering Depositary receipts at a price of 11.6 to 15.4 $US per unit.
EXANTE clients can invest in the LSE traded GDRs of Kazatomprom. Receipts will appear in the catalog of instruments in your account, trading terminal and mobile application on the day trading starts. You do not need to take any additional steps to work with these GDRs. Just open the terminal and trade!
This tesxt is for informational purposes only and should not be regarded as an offer or solicitation of an offer to buy or sell any investments or related services that may be referenced here.