Property Week
Kazakhstan Kagazy aims to raise $300m (£150m) from an initial public offering that will value the paper, packaging and industrial property group at around $1bn (£500m).
The company said on Monday that it intended to launch an IPO of ordinary shares in the form of global depository receipts, which will be listed on the London Stock Exchange. Pre-marketing started this week and the price range will be announced at the beginning of July.
Kagazy is also one of central Asia's leading industrial developers. Its Peak subsidiary owns 1,330 acres of development land outside Almaty.