OREANDA-NEWS. February 16, 2011. KAZAKHMYS PLC, whose common shares are officially listed on Kazakhstan Stock Exchange (KASE) has provided KASE with the following press-release, reported the press-centre of KASE:

On 5 October 2010, Kazakhmys announced that its Chairman, Vladimir Kim, had sold part of his holding in Kazakhmys, reducing his interest from 38.9% to 27.9%. The announcement also stated that Mr. Kim intended making a further 4.0% available to facilitate the provision of liquidity for a possible secondary listing on the Hong Kong Stock Exchange in 2011.

Mr. Kim has subsequently informed the Board that he intends to retain his current holding in full. The 27.9% will be locked up until October 2011.

The Group wishes to continue developing its already strong relationships with China, and believes that this will be assisted by a successful Hong Kong listing. As a result, Kazakhmys will continue to consider a secondary listing on the Hong Kong stock exchange, potentially using new shares to assist liquidity. Given the strength of Kazakhmys' balance sheet, the size of the offering is expected to be smaller than originally envisaged.