Nazarbayev’s daughter sells 10% of Halyk Bank

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By Sam Kerr
03 Oct 2019

Holding Group Almex, the investment vehicle owned by Dinara Kulibaeva and her husband Timur Kulibayev, closed books on a 10% stake in Halyk Bank on Thursday, sold via a marketed sale of global depositary receipts in London and Astana.

JP MorganDeutsche Bank and Halyk Finance were global co-ordinators and Renaissance Capital was a bookrunner.

Kulibaeva is the second daughter of former Kazakhstan president Nursultan Nazarbayev, who remains the most important political figure in the country.  

Almex originally set out to sell a minimum of 14.7m GDRs, roughly 5% ...

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