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 Morgan, Deutsche
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,