"We are absolutely open and transparent way to sell the stake to 24%, which we own. The next step is selling 51 percent to a strategic investor already at the beginning of next year. When the secondary placement of shares we do not set any limits either by number or by type of investors, meaning any investor is a natural person or legal entity has the right to come to apply for subscription for shares. Until 10 December KASE accepts these requests. Then during the week we will consider and respond, "said Managing Director on economy and finance JSC "Samruk-Energo” Dauren Baymagambetov briefing in Astana on Friday, December 5.
Sale of shares in the stock market MDPGC is held within the framework of the mandate of the head of State and Government of Kazakhstan JSC "Samruk-Kazyna" analysis of companies with State and determining the list of enterprises for transfer to the private sector. Privatization of the assets "Samruk-Energo" is held within the framework of the Decree of the Government of Kazakhstan dated March 31, 2014 on some issues of privatization".
A key factor in the attractiveness of Mangistau distribution power grid company, he said, is the fact that MDPGC realizes its activity in the Mangistau region, which is a promising oil and gas region in the country in terms of growth in hydrocarbon production and, as a consequence of the growth in electricity consumption.
It should be noted that the volume of electricity production in the last six years, the region has steadily increased on average by 1.9% against the background of rising consumption. The volumes of the transmission of electricity over the past three years MDPGC also increased by 5-6% annually. It is expected that in the coming years, growth rates of transmission persist at the level of 5%.
If over the last 9 months of the year 2014 in the Republic of Kazakhstan, the average increase in consumption as a whole amounted to 1%, that of Mangystau region grew by 10%, which gives confidence in the future of "MDPGC".
BUT another advantage is high-quality customer base: 98% of the company is a legal entity, of which 82%-oil-producing enterprise, leading operations in the Mangistau region, which form the 90% of the proceeds of the company. While the population accounts for about 11% of the total volume of electricity sold.
"If individuals, businesses, municipal and domestic sector the deposit will not be charged, the legal entities are paid without delay, on a pre-payment scheme, and this allows the company well manage their accounts receivable and payable balances", - said Dauren Baymagambetov.
In addition, over the past years MDPGC shows positive dynamics of financial indicators: from 2010 to 2013 the company's net profit increased from 58.3 million to 1.156 billion, respectively, to EBITDA increased in 7 times. This year the company expects about the same level of profit as last year.
The company's growth in dividends. So, if the 2010 financial year paid 64 million of dividends, in 2013, the company paid out 434 million of dividends, or 213 tenge per share.
To date, "MDPGC" is the only regional power companies, which has confirmed the credit rating from Fitch Ratings-long-term foreign currency issuer default rating at BB + (stable Outlook), as well as the long-term issuer default rating in national currency at the level of BBB-.
"MDPGC" if you compare with other existing RNC of Kazakhstan, the service area "MDPGC" more than the average for Kazakhstan. The length of line is actually in 4 times less, this means that the company does not need to spend a lot of lines like other companies. Though the power of power transformers is smaller than average for Kazakhstan, BUT sales by 40% more than the average for the Republic, i.e. the company more efficiently uses its power involved. Actual loss "MDPGC" almost twice lower than the average loss in Kazakhstan", - said Dauren Baymagambetov.
Sale of shares in JSC "MDPGC" in stock market is conducted within the framework of the mandate of the head of State to the Government of the Republic of Kazakhstan and JSC "Samruk-Kazyna" (hereinafter the Fund) for the analysis of the companies with State participation and determining the list of enterprises for transfer to the private sector. The privatization of assets JSC "Samruk-Energo” is held within the framework of the Decree of the Government of the Republic of Kazakhstan dated March 31, 2014 year no. 280 “on some questions of privatization".
The goal of the program is to increase the competitiveness of the privatization of the energy market, attract private investment and improve the efficiency of the national economy.
In accordance with the earlier decision of JSC "Samruk-Kazyna" approved the list of organizations and sites the Group of companies JSC "Samruk-Energo", to be implemented in a competitive environment.
In the year 2014 is 50% of shares of JSC "ZHGRES"; 100% of shares of JSC "Aktobe"; 100% of shares of JSC "EKREC"; 100% of shares of "Shygysenergotrade"; 75% + 1 share of JSC "MDPGC";
in the year 2015: 100% of shares of JSC "Almaty power plants"; 100% of shares of Alatau zharyk company JSC; 100% shares of "Almaty Power sales", and 100% of LLP "Tegis-munai".
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