JSC NAC Kazatomprom’s $3 Billion Dual LSE/AIX Listing

White & Case LLP has advised the underwriters on the offering.

With approximately 20 percent of total global uranium primary production in 2017, Kazatomprom is the world’s largest producer of uranium. Its float is the first dual-listed IPO on the LSE and AIX, and the first Kazakhstani privatization by way of an international IPO under the Kazakhstan Privatization Programme 2016-2020.

The offering comprised a sale of ordinary shares and global depositary receipts by Samruk-Kazyna, a sovereign wealth fund of the Republic of Kazakhstan. Kazatomprom’s ordinary shares have been admitted to trading on the AIX, and the global depositary receipts representing its ordinary shares have been admitted to trading on the main market for listed securities of the LSE and AIX.

White & Case advised a syndicate of banks including Credit Suisse and J.P. Morgan as Joint Global Coordinators and Joint Bookrunners, China International Capital Corporation, Halyk Finance and Mizuho International plc as Joint Bookrunners, and Numis Securities as Co-Manager, with a team including Pavel Kornilov (Picture), Darina Lozovsky (London & Moscow) and Inigo Esteve (London), with support from associates Amulang Povaeva (Moscow), Karina Sultanaliyeva, Alikhan Baizakov and Tatyana Lee (all Astana).

Involved fees earner: Alikhan Baizakov – White & Case; Inigo Esteve – White & Case; Pavel Kornilov – White & Case; Tatyana Lee – White & Case; Darina Lozovsky – White & Case; Amulang Povaeva – White & Case; Karina Sultanaliyeva – White & Case;

Law Firms: White & Case;

Clients: China International Capital Corporation Limited (CICC); Credit Suisse; Halyk Finance JSC; JP Morgan; Mizuho;

Author: Michael Patrini.