History of the Сompany

GRI 2-1

Kcell JSC traces its history back to the late 1990s and was originally established as GSM Kazakhstan LLP of Kazakhtelecom OJSC (GSM Kazakhstan LLP). The company was registered on 1 June 1998 to design, build, and operate a GSM mobile network in the Republic of Kazakhstan. That same year, Kcell became the first company in Kazakhstan to receive a license to provide GSM mobile communication services.

Until 2012, GSM Kazakhstan LLP was jointly owned by Fintur Holdings B.V. (a Dutch-registered joint venture between TeliaSonera Finland Oyj and Turkcell Iletisim Hizmetleri) and Kazakhtelecom OJSC (renamed Kazakhtelecom JSC in 2004), holding 51 % and 49 % stakes, respectively. On 2 February 2012, Kazakhtelecom JSC sold its stake to Sonera Holding B.V., a subsidiary of Finland’s TeliaSonera (renamed Telia Company in 2017).

On 27 August 2012, the company was converted into a joint-stock company and renamed Kcell JSC. In December 2012, Kcell placed 50 million shares (representing 25 % of its share capital) in the form of global depositary receipts on the London Stock Exchange and as ordinary shares on the Kazakhstan Stock Exchange. As a result, the main shareholders – Fintur Holdings B.V. and Sonera Holding B.V. – held 51 % and 24 %, respectively.

On 21 December 2018, Kazakhtelecom JSC acquired the shares in Kcell JSC previously owned by Telia Company and Fintur Holdings B.V., gaining a 75 % stake in the company. On 30 September 2021, Kazakhtelecom JSC sold 24 % of the voting shares on the Kazakhstan Stock Exchange (KASE).