Kazakhtelecom Shares Drop 31% in a Single Day
Photo: Kaazakhtelekom
Shares of Kazakhtelecom JSC fell sharply on the Kazakhstan Stock Exchange (KASE), dropping from 58,400 to 39,900 tenge per share in a single day—a decline of over 31%. Trading in the company's shares was subsequently suspended, Orda.kz reports.
According to the Qazaq Association of Minority Shareholders (QAMS) Telegram channel, the suspended trading volume totaled approximately 423.6 million tenge. The decision to halt trading followed a transaction conducted at 39,900 tenge per share, while the official price of the last recorded trade stood at 41,200 tenge.
KASE has not yet announced when trading will resume.
The drop comes just after Kazakhtelecom declared record-high dividend payouts on May 16—74.1 billion tenge for 2024 and 219.2 billion tenge from retained earnings of previous years. Initially, the news pushed shares upward. However, following the closure of the shareholder register for dividend distribution, the stock price plunged.
Kazakhtelecom’s main shareholders are the Samruq-Qazyna Sovereign Wealth Fund and Telecom Systems Ltd, a private company.
Original Author: Nikita Drobny
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