OREANDA-NEWS. December 24, 2007. Eurasian Natural Resources Corporation Plc (ENRC) will place 0,8% of the state-owned shares at the Kazakhstan Stock Exchange (KASE). This was announced by Daulet Ergozhin, Kazakhstan Vice Minister of Finance, at the round-table discussion on investment funds and raising of the finance awareness of the populace, reported the Official website http://en.government.kz.

“We intend to sell 0,8% of the state-owned shares to Kazakhstan’s citizens. The shares are planned to be placed at KASE in the first or – at the latest – second quarter of 2008”, he said.

ENRC will also issue additional shares at KASE, the Vice Minister said. “The decision on the volume of the issue will be taken in January, at a meeting of the Board”, D. Ergozhin briefed.

In March 2007 the Kazakhstan’s Prime Minister had commissioned the Finance Ministry with arrangement of sales of 0.8% of the state-owned shares to the population. The Government owns a 24.8% stake in ENRC.

Early December the company sold 20% of its shares at LSE.

Kazakhstan-based Eurasian Natural Resources Corporation is the largest producer of ferrochrome and the 6th largest supplier of iron ore. ENRC incorporates KazChrom, Aluminyi Kazakhstan, Kazakhstan electrolysis plant, Zhairem mining-and-processing integrated works, Sokolovsko-Sarbaiskyi ore-dressing enterprise and a number of other assets.