Phystech II Nets Samruq-Qazyna Over 21 Billion Tenge
The National Welfare Fund Samruq-Qazyna has reported a 21.4 billion tenge net gain following the acquisition of JSC Phystech II, a company previously owned by oligarch Kairat Boranbayev, Orda.kz reports.
According to the fund’s financial statements published on the KASE website, in January 2025, Samruq-Qazyna issued 1,000 shares worth 8.1 billion tenge. The shares were paid for by transferring securities of Phystech II.
Based on 2024 figures, the fund’s assets rose by 26.3 billion tenge and liabilities by 4.8 billion tenge after the acquisition. The resulting increase in net assets totaled 21.4 billion tenge.
Phystech II was one of the first assets Boranbayev announced to transfer to the state. The company operates the Severny Karazhanbas oil field in the Mangystau Region and was valued at 35.5 billion tenge at the time of transfer.
Boranbayev previously held the asset through the KazTurboRemont holding.
In 2024, Orda.kz learned that the oligarch did not immediately sign the deed of gift. Official documentation shows the deed was only registered in August 2024. By April 2025, it was announced that the company would be privatized.
Original Author: Nikita Drobny
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