Kazakhstani Tycoon No Longer Owns Major Plant

Dinmukhamet Idrisov has lost control of the Aqtobe Oil Equipment Plant JSC, which was previously managed through his Ortabasy Group, reports Orda.kz.

A document filed with the Kazakhstan Stock Exchange (KASE) on December 30 reveals that Aidar Amanzholov, through his company KazMetalInvest LLP, is now the majority shareholder of the plant.

The filing also disclosed dividend payments of 890.6 million tenge to shareholders, compared to the plant's net profit of 980.6 million tenge as of October 1, 2024.

Before the ownership change, the plant was controlled by Dinmukhamet Idrisov, 17th on  Forbes Kazakhstan's list.

The previous ownership structure included his company Ordabasy Group, his wife Magda Idrisova, and two other individuals - Lyazzat Bidasheva and Ongarbek Bolysbekov.

Notably, KazMetalInvest, the company now controlling the plant, is relatively new.

It was registered in April and has paid only 18.5 thousand tenge in taxes since its establishment.

This marks a significant shift in plant ownership, adding to the portfolio of public utilities controlled by the Idrisov family in Kazakhstan, which Orda.kz reported extensively on last year.

Original Author: Nikita Drobny