ALMEX Holding Group JSC, controlled by Timur and Dinara Kulibayev, is considering a partial sale of its stake in Halyk Bank on international and local capital markets.
According to Bes.media, the holding company made this decision to increase liquidity of shares and GDRs (Global Depositary Receipts).
As stated in the document, the decision will depend on market conditions and the availability of favourable terms. At the same time, ALMEX will retain a controlling stake and reaffirms its full commitment to the long-term development strategy of Halyk Bank.
According to available information, the options under discussion relate to standard market practice — a secondary share sale, where an existing shareholder partially sells a block of securities.
Such transactions are common in international markets and have already taken place in Kazakhstan, including deals by Kazatomprom and Halyk Bank itself in 2019.
In the event of a sale, part of the shares will be floated, which, according to analysts, could broaden the investor base and significantly increase the liquidity of the securities.
For institutional and retail investors, the additional placement will offer an opportunity to acquire highly liquid shares of the country's largest bank. Halyk Bank consistently pays dividends, has strong financial indicators, and holds a leading position among second-tier banks.
According to data from the National Bank as of 1 October, Halyk Bank's assets amounted to 19.8 trillion tenge, its loan portfolio stood at 12.9 trillion tenge, and its liabilities were 16.5 trillion tenge. Over the first nine months of last year, the bank posted a profit of 727.2 billion tenge.
Experts note that the potential deal could boost interest from foreign and local investors in Kazakhstan's capital market, improve trading dynamics, and diversify the investor base.
It has become known that the Kulibayevs' holding company owns 69.48% of Halyk Bank's ordinary shares. The second largest shareholder remains The Bank of New York, which holds 27.92% of the shares.