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MegaCom can become JSC and its shares be traded on stock exchange

MegaCom can become an open joint stock company, and its shares will be traded on the stock exchange, the head of the State Financial Supervision Department Sanzhar Mukanbetov stated today at a meeting of the parliamentary committee on economic and fiscal policy.

Last year, for the first time, five-year securities were issued. They were launched on the stock exchange with parallel circulation in the market of the National Bank of Kyrgyzstan.

«For two and a half years, we have been proposing that at least 15 percent of the shares of state-owned companies to be circulating in the stock market. We also plan to transform MegaCom into an open joint stock company and launch at least 15 percent of shares into the stock market. That is, we want to make a «popular IPO," Sanzhar Mukanbetov said.

«To develop the stock market, one needs to create a large amount of free money supply. We offered introduction of compulsory civil liability insurance, then annually 2–3 billion soms would go freely, and they would have to be invested somewhere. But compulsory civil liability insurance was postponed until 2019,» he added.