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Kazkommertsbank biggest shareholder offers to acquire more shares

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Kazkommertsbank biggest shareholder offers to acquire more shares

Kenges Rakishev, JSC Kazkommertsbank's biggest shareholder, offered toacquire additionalshares of the bank from other shareholders at a weighted averageprice of 211.4978 Kazakhstan tenge per common share and 79 tenge per preferredshare.

Shareholders willing to sell their shares have 30 days torespond to the offer.

Following a recent preliminary agreement with NurzhanSubkhanberdin and JSC Central Asian Investment Co. to acquire their commonshares in Kazkommertsbank, Rakishev's direct and indirect ownership in the bankincreased to 71.23%.

As of May 6, US$1 wasequivalent to 326.11 Kazakhstan tenge.