Kazakhstan has postponed the listing of its state oil and gas firm KazMunayGas (KMG) until after 2019, due to worsening market conditions and Brexit uncertainty that could dampen investor appetite on London’s stock exchange, Reuters reported on Friday, citing two banking sources. Kazakhstan’s wealth fund Samruk-Kazyna holds 90 percent in KMG, while the central bank, the National Bank of the Republic of Kazakhstan, owns 10 percent plus 1 share. KazMunayGas produces 28 percent of Kazakhstan’s total crude oil and gas condensate production and 16 percent of the country’s natural and associated gas. Kazakhstan’s fund Samruk-Kazyna originally had plans for an initial public offering (IPO) of KazMunayGas at some point after 2018, as part of a government privatization program. Now the listing has been further pushed out to beyond 2019, due to a stalling IPO market on the London Stock Exchange, concerns over the global economy, the U.S.-China trade war, […]