Citigroup to advise Kazakhstan

Citigroup has been named lead adviser to the Kazakhstan government for its People’s IPO programme, which will allow Kazakhstani people to invest in state-owned companies, as well as raise country’s profile as an investment hub. UBS, JSC Visor Capital and JSC KazKom Securities will also advise the government. PwC has been chosen as its accountant and Cleary Gottlieb Steen & Hamilton and GRATA Law Firm will offer legal advice. Merlin will undertake PR duties. Several national assets will be available to citizens through the scheme, which will be formally considered in July.