Kazakhstan’s state energy company, KazMunaiGas National, is seeking to raise $500 million, Bloomberg reports. The company plans to sell a 5% stake in its London-traded unit, KazMunaiGas Exploration Production, to Kazakhstan’s citizens. The state also plans to offer stakes in state-owned Kazakhstan Electricity Grid Operating, Kazpost and railroad operator, Kazakhstan Temir Zholy. Kazakh pension funds will be allowed to buy shares that are not bought by individual investors.
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