Kazakhstan’s Electrolysis Plant (KEZ), part of Eurasian Resources Group (ERG), has distributed 18.7 billion tenge in dividends for 2023—10.6% more than its net profit of 16.9 billion tenge for the period, according to data published by the Kazakhstan Stock Exchange (KASE).
In 2024, KEZ recorded a net profit of 59 billion tenge, while its total assets as of 1 April 2025 stood at 424.3 billion tenge, with liabilities reaching 181.6 billion tenge. The first quarter of 2025 saw a slight 0.06% dip in assets, amounting to 2.8 billion tenge, while liabilities surged by 61 billion tenge—an increase of 150%.
The company previously announced plans to raise up to $100 million on KASE through bond issuance, with a nominal value of $1,000 per bond. The bonds, carrying a three-year term and semi-annual coupon payments, attracted $51 million in investment at a 6.5% coupon rate on 30 May. Another round of subscription is scheduled for 10 June 2025 to sell the remaining bonds.
ERG’s ownership structure includes Kazakhstan’s Ministry of Finance (40%), heirs of Alexander Mashkevich and the Ibrahimov family (20.7% each), and Patokh Shodiev (18.6%).
For more details, check the original report here.
