News Column

KKB buyback of common shares

August 13, 2014

Yesterday, KKB announced the results of the first buyback of common shares. The bank will significantly reduce government funding by purchasing 51mn shares from SK (31% of its stake in the bank) for KZT 24bn (at KZT 475 per share). It will also acquire 27.3mn shares from minority shareholders (50% of their holdings) and as a result, the free float might be reduced to 4%. The major shareholders did not participate in the buyback.

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Source: EMBIN (Emerging Markets Business Information News)

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