/KASE, January 26, 2018/ – The Committee on Indices and Securities Valuation
of the Kazakhstan Stock Exchange (the Exchange) made a decision to suspend
calculation of bond market indices for alternative market (KASE_BAC "clean" price
index and KASE_BAY bond yield index) as of January 26, 2018. This decision is
made due to the absence of representative selection for calculation of indices
mentioned.
According to the Methodology for Stock Market Indicators Calculation (hereinafter,
the Methodology), the representative list for calculation of corporate bond market
indices of KASE_BA* series (hereinafter, the List) is formed out of corporate
bonds present in the official list of the alternative market provided that these
bonds meet the criteria set in the Methodology. The total number of the mentioned
bonds in the List must be at least four.
Prior to January 26, the List comprised bonds of the following titles:
1)KZ2CKY13B996 (KZ000A0T88N8, BTTRb1) Batys Transit JSC,
2)KZ2C0Y03F091 (KZ2C00003440, FFINb1) Freedom Finance JSC,
3)KZ2P0Y10C900 (KZ2P00000193, ORDKb2), Credit Accosiation Orda Credit
LLP,
4)KZP01Y03F022 (KZ2C00003366, ASYLb1) ASYL-INVEST JSC.
On January 26, 2018, bonds of Credit Accosiation Orda Credit are to be removed
from the lists of the Exchange and, accordingly, from the List due to maturity.
There are no bonds on the alternative market that fully meet the criteria of the
Methodology for including into the List despite the facts that there are bonds
of 20 titles of 16 issuers present in the lists of this market. Most bonds do
not meet the criteria of the Methodology because these securities do not have a
market- maker.
Therefore, the Exchange suspends calculation of indices of KASE_BA* series until
at least four bonds appear on the alternative market that meet the criteria of
the Methodology.
The Exchange will publish latest calculated values of KASE_BA* series indices.
KASE_BA* series include KASE_BAC "clean" price index and KASE_BAY bond yield
index. These indices are calculated daily since September 4, 2017.
The text of the Methodology is published on KASE website at:
http://kase.kz/files/normative_base/indicators_met_eng.pdf
[2018-01-26]