Business Information Center Kapital
Nurbank announced an increase in its stake in the capital of its subsidiary JSC 'Accumulation Pension Fund 'Atameken'. This was reported by the business portal Kapital.kz, referencing the Kazakhstan Stock Exchange.
'Nurbank increased its share (percentage of voting shares) in the capital of its subsidiary pension fund Atameken from 96.5172% to 98.4632%. This occurred as a result of a transaction to repurchase its own shares from an existing shareholder, registered in the system of JSC 'Single Securities Registrar' on December 5, 2014. The number of shares owned by Nurbank has not changed and amounts to 32,036 ordinary shares, and the share of the total issued shares remains the same at 95.9162%,' the stock exchange reported.
It should be noted that at the end of November 2014, in an exclusive interview with a correspondent of the business portal Kapital.kz, Nurbank's head Kantar Orynbaev reported that the fund Atameken, which is being transformed into another company, will not engage in the pension business. 'This decision is final,' the banker explained.
He also emphasized that the name of the fund Atameken no longer includes the abbreviation 'NPF'. 'The pension fund will certainly not be a management company, but its line of activity is yet to be determined,' reported Kantar Orynbaev.
Incidentally, in early October, Kantar Orynbaev emphasized that Atameken did not plan to participate in the tender for managing a portion of pension funds. 'The regulator set a rating requirement for participation in the tender, which the rating of the parent bank of NPF Atameken, that is, Nurbank, did not meet. There are several options for the future activities of NPF Atameken: either it will be liquidated or repurposed,' said the banker.