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MarketScreener Homepage  >  Equities  >  Kazakhstan Stock Exchange  >  KazTransOil JSC    KZTO   KZ1C00000744

KAZTRANSOIL JSC

(KZTO)
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KazTransOil JSC : In order to withdraw KazTransGas JSC from the structure of NC KazMunayGas JSC, it is necessary to obtain the consent of the creditors

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06/08/2020 | 12:20pm EDT

The Chairman of the Management Board of JSC NC 'KazMunayGas' Alik Aidarbaev proposed directly reassigning JSC 'KazTransGas' to the Samruk-Kazyna Fund.

This proposal was voiced at a regular meeting of the Samruk-Kazyna Fund Management Council chaired by the First President of the Republic of Kazakhstan, Elbasy Nursultan Nazarbayev.

During his speech, the head of KMG noted that over the years of independence, a powerful transport infrastructure for oil and gas was created in the country.

'During the period of infrastructure development, the location of KazTransGas JSC and KazTransOil JSC as part of KazMunayGas was fully justified. It was necessary to concentrate all resources into a single center for the development of a diversified network of transport routes. To date, all these works are almost complete and the two companies have already become self-sufficient. In this regard, it is proposed at the initial stage to reassign the KazTransGas company directly to the Samruk-Kazyna Fund. This will reduce management levels, keep the state's infrastructure projects in case KMG goes public, and concentrate on KMG's exploration, production and refining of oil and gas, oil and gas chemistry projects, 'Alik Aidarbayev said.

This proposal was supported by Nursultan Nazarbayev, who instructed to work on this issue.

Currently, KMG has begun to fulfill the instructions in relation to KazTransGas JSC. It is necessary to obtain the appropriate consent of state bodies, as well as the approval of the boards of directors of the Samruk-Kazyna Fund and KMG.

Also, negotiations will be held with other interested parties with whom KMG has a contractual relationship. Work will be carried out with creditors, including holders of KMG Eurobonds, to explain the transaction, the reasons for its implementation and to obtain their consent. Decisions on the structure of the transaction will be made taking into account their interests, as well as the impact on KMG's credit ratings.

The issue in relation to KazTransOil JSC will be considered additionally at a later stage.

Contact:

Tel: + 7 (7172) 78 61 01

Fax: + 7 (7172) 78 60 00

Web: www.kmg.kz

(C) 2020 Electronic News Publishing, source ENP Newswire


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Financials
Sales 2019 240 B 554 M 554 M
Net income 2019 45 121 M 104 M 104 M
Net cash 2019 69 806 M 161 M 161 M
P/E ratio 2019 8,77x
Yield 2019 11,5%
Capitalization 310 B 718 M 715 M
EV / Sales 2018 2,03x
EV / Sales 2019 1,36x
Nbr of Employees 7 150
Free-Float 10,00%
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Income Statement Evolution
Consensus
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Mean consensus BUY
Number of Analysts 1
Average target price 1 578,00 KZT
Last Close Price 804,99 KZT
Spread / Highest target 96,0%
Spread / Average Target 96,0%
Spread / Lowest Target 96,0%
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NameTitle
Dimash Dosanov Chairman-Management Board & Director
Daniyar Amirbaevich Berlibayev Chairman
Nurtas Nuribekovich Shmanov Director
Hadrien Freyssinet Independent Director
Alves Vinicius Agostini Independent Director
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