Primary offering auction of OJSC "Astana-finance" shares will be held on KASE at May 23-26

/IRBIS, May 17, 2000, official press-release of the exchange/ - Kazakhstan Stock Exchange (KASE) informs that primary auction on offering of common inscribed shares of OJSC "Astana-finance" (official list of securities, category "B", KZ1C7671418, trade code in main trade regime - ASFI) will be conducted between May 23 and 26. Total volume of floatation - KZT3 bln at par value of KZT1,000.00. The emitter intends to offer 2,000 shares on total sum of KZT2 mln. Applications in the KASE trade system will be accepted daily between 11.30 a.m. and 17.00 p.m. of Almaty time. Satisfaction method is based on the bid price. The purchased shares should be paid off till 18.00 p.m. of Almaty time at the day of a deal. The exclusive right on offering of selling applications belongs to CJSC "Fondovyi Servis" (Almaty), the brokerage company and the agent of the floatation. The terms of auction are somewhat different from those described in "The rules of KASE on conduction of primary offering auctions." The offering will be implemented by uninterrupted counter auction in KASE trade system as open trades. It means that all auction participants will see bids of other traders. Unlike common trade regime of KASE, bids will be given in tenge but not dollars. The deal volume will be estimated as multiplication of a deal's price by number of purchased shares. In relation with this system of trades, KASE has implemented new trade code for common inscribed shares of Astana- finance - ASFI_AUCTION. Participants of the auction will use this code in trades. The shares of Astana-finance were included in KASE official list of securities at Jan.17, 2000 and admitted to trades at Jan. 28, 2000. Since that, 5 deals were conducted on the sum of $745.9 th. The price fluctuations have been around $7.15 and $7.18 per share. The last deal was made at March 13 with volume of $14 th and price of $7.15 per share.