Forte Bank: Bulat Utemuratov's Son Sold Stake

Bulat Utemuratov bought out his son's share of JSC Forte Bank and now controls 90.91% of the bank, Orda.kz reports.

According to KASE, Bulat Utemuratov is currently the only major shareholder.

He controls over 82.2 billion shares out of 92.3 billion placed on the stock exchange. Previously, Alidar Utemuratov, founder of the investment company Green Apple and the DAR group of companies, was a joint owner with his father; he owned 7.34% of the shares.

As of October 1, Alidar Utemuratov was no longer listed among Forte Bank's shareholders. What caused this “shifting” is unknown.

Bulat Utemuratov's assets have attracted increased attention after the sale of media outlets Channel 31 and the Informburo.kz portal.

Utemuratov controlled them through his Verny Capital group.

In early October, reports emerged that Utemuratov transferred these media projects to the Adildiq Jane Orkendeu Public Foundation. 

Original Author: Nikita Drobny