OREANDA-NEWS. On December 13, 2007 during the meeting, David Cooksey, the ENRC Board Chairman informed the President on the first results of the company’s IPO on the London Stock Exchange. Particularly, he said that the company’s IPO gathered three billion dollars on the first day, reported the Official website www.akorda.kz.

“We were pleased to know this. Another Kazakhstani company makes its IPO in international stock markets, and this is very important to our economy. This corresponds to our work on increasing transparency of Kazakhstani companies,” the Head of State noted.

Eurasian Natural Resources Corporation was the largest company that made its IPO on the London Stock Exchange in 2007. The company has been positively evaluated by foreign investors.

“These three billion dollars received from the IPO yesterday will be used completely for the company’s expansion and strengthening its positions not only in Kazakhstan, but in the world financial system,” the ENRC Board Chairman said at a press briefing.

Over the last ten years, the ENRC has become the second largest corporation in the world metallurgical industry that had an IPO on the London Stock Exchange. In the opinion of Jeremy Fletcher, the managing director and head of European Metals and Mining of the Credit Swiss Group, the ENRC will be on the list of the 100 largest companies on the London Stock Exchange.

“Kazakhstan’s people can be proud of the successfully performed financial operation, because all of these were done in the critical conditions of the world financial and stock markets experiencing some difficulties. Over the last two months, 28 companies tried to make an IPO, but only 8 of them could do it. Today, investors very critically evaluate the companies they would invest in. The financial operation conducted yesterday demonstrates that the ENRC has a good international reputation. This company has a promising future,” Jeremy Fletcher said at a press briefing.