Mega Center Management has announced the voluntary delisting of its common shares from the official list of KASE. This decision was made by the company's sole shareholder on February 6.
"To approve the voluntary delisting, namely the removal of the common shares of JSC ‘Mega Center Management’ from the official list of JSC ‘Kazakhstan Stock Exchange’," the document posted on the KASE website on February 11 states.
As explained to Forbes Kazakhstan by Mega Center Management's press service, the long-term interests of the business do not involve attracting new investors or going public, as the company possesses sufficient financial and operational resources to achieve its strategic goals. "In light of this fact, JSC ‘Mega Center Management’ has decided to remove the company's shares from the stock exchange list," the company's statement indicates.
As of January 1, 2025, the sole shareholder of Mega Center Management is the private joint-stock company A.G. Overseas PTE. LTD, which is managed by the irrevocable trust fund The Steppe Sunrise Trust, registered in Singapore.
According to the latest financial report, as of October 1, 2024, the total assets of Mega Center Management amounted to 61.3 billion tenge, total liabilities were 36.7 billion tenge, and equity was 24.6 billion tenge. The net profit for January–September 2024 reached nearly 11.5 billion tenge. Furthermore, for 2023, Mega Center Management earned 14.3 billion.
Mega Center Management is considered the development division of Astana Group, which is engaged in the construction and development of the largest shopping and entertainment centers in Kazakhstan, MEGA (MEGA Alma-Ata, MEGA Park in Almaty, MEGA Silk Way in Astana).
The owner of Astana Group is the well-known entrepreneur Nurlan Smagulov, ranked No. 8 in the list of the 75 richest businessmen in Kazakhstan - 2024 according to Forbes Kazakhstan. His net worth is estimated at $980 million.