ON OCT 02 AUCTION FOR OFFERING OF AMB CJSC (KAZAKHSTAN)BONDS WILL BE HELD AT KASE

27.09.00 00:00
/KASE, official press-release of the Exchange, Sep 27, 00/ - Kazakhstan Stock Exchange (KASE) informs that on October 02 an auction for initial offering Almaty Merchant Bank CJSC first issue bonds (KZ2CKAN3AA16, official list of KASE securities, category "A", trade code ATFBb) will be held in trade system of the Exchange. The issue will be offered at the auction on following terms. The bids will be made by the investors in the trade system of the KASE from 11:30AM till 01:00PM Almaty time on October 02, 2000. The volume of floatation is $1.3 mln or 13,000 bonds. The object of the trades is the "clean" price in percents of the bond face value, excluding accumulated interest at the moment when the auction is held. Accumulated interest on the offering date is zero, as dates of auction and circulation coincide. The number of bonds will be indicated by their face value. The amount of the deal will be determined as a production of "clean" price and face value of purchased bonds divided by 100%. The bids will be satisfied at bid price after the issuer conducts cut-off procedure. The bids, with prices less than the cut-off price, will be excluded. All bids, submitted at equal or higher price, will be satisfied at one price - cut-off price. Only competitive bids are accepted at the auction. The securities purchased at the auction will be paid till 4:00PM Almaty time on October 02, 2000 in KZT at weighted average KZT/USD rate that will be settled at the main (morning) session of KASE on the payment date. Existing KASE members of category "P" (with the right to participate in the securities trades that were entered into official list of the Exchange) are allowed to take part in the auction. Complete list of the members with their contact information is kept up-to-date on the web site of the KASE (http://www.kase.kz/KASE/Members/). The Exchange is emphasizing on the fact that coupon bonds of TEMIRBANK OJSC can be purchased using the assets of accumulative pension funds, since they have been entered into official list of KASE securities of category "A". Coupon bonds of AMB CJSC were entered into official list of the Exchange under category "A" on Sep 26, 2000. The bonds are denominated in U.S. dollars. Face value - $100.00. Total issue volume at face value - $5 mln. Circulation term - 1 year. Issue and circulation date - Oct 02, 2000. Repayment date - Oct 02, 2001. Payments for the bonds are to be made in KZT at weighted average rate of the KASE, effective on the payment date. Coupon is semiannual at 10.5% APR. Coupon payment dates are Apr 02 and Oct 02, 2001. Coupons are paid in the Kazakhstani tenges at weighted average rate of the KASE, effective on payment date. According to the rules of the issuer, coupons are calculated using 360/30 time basis. Individuals, who purchased the bonds not later than 30 days before the payment date, are entitled to receive a coupon. If coupon payment date happens to be a week end, then coupon is to be paid on the first business day after the week end. All payments related to purchasing and repayment of the bonds are made in KZT at weighted average KZT/USD rate that will be settled at the main (morning) session of KASE on the payment date. The bonds are repaid in KZT at weighted average KZT/USD rate that will be settled at the main (morning) session of KASE on the payment date. Funds attracted at floatation will be directed to crediting of large and small scale enterprises of the real sector. Market maker status was granted to the issuer itself. Minimal volume of obligatory quotations is 30 bonds.