KazMunaiGas Exploration & Production (RDGZ.KZ), the London- and Kazakh-listed oil company, is considering listing on a third stock exchange, reports The Independent on Sunday newspaper, citing Chief Financial Officer Zhanneta Bekezhanova. The group, which is partly state owned and Kazakhstan's second-biggest oil producer, has received offers from at least four other exchanges. KazMunaiGas listed in London and Kazakhstan two years ago, raising $2.3 billion.
"We are thinking about a third exchange. We have received offers from Singapore, Hong Kong and Warsaw. We are looking at the proposals but have not yet decided," Bekezhanova said.
Alexander Gladyshev, managing director of investor relations, said that the Karachi exchange in Pakistan had also contacted the group about a float. The decision will ultimately be made by the Kazakh government.
KazMunayGas couldn't be reached for comment.