On December 26 Kazakhstan Mortgage Company JSC has not floated KZPC1Y03B142 (KZIKb9) issue bonds due to unsatisfactory parameteres of demand

/KASE, December 26, 05/ - On December 26, 2005 in trade system of Kazakhstan stock exchange (KASE) specialized trades on offering of KZPC1Y03B142 mortgage bonds of Kazakhstan Mortgage Company JSC (Almaty) (KASE's official "A" listing category, KZIKb9, KZT1, KZT5.0 bn.; March 1, 05 - March 1, 08, fixed semiannual coupon, 30/360) were held. These bonds issue is the first within the company's first bond program, registered by the Agency of the Republic of Kazakhstan for regulation and supervision of financial market and financial organization on April 8, 2004 for the amount KZT20.0 bn. and the ninth issue of the company's bond issue, passed listing procedure at KASE. The issuer offered market participants 250.0 m. bonds, this is 5% from registered volume of issue. Subject of trades was fixed coupon rate on bonds, expressed in percents annum with accuracy to second decimal, which was introduced by participants as price parameter. Bids for participation in floatation were submitted by open method from 11:30 to 13:00 of Almaty time (ALT). Only limited and market bids were accepted on trades. Stake of market bids satisfaction - 70%. Stake of bids satisfaction - at cut off price (rate). 3 KASE participants took part in trades, who submitted 5 limited and 2 market bids. To the moment of time expiry for submission 5 active bids (3 limited and 2 market) left in KASE trade system for purchase of 1,354,000,000 bonds. Thus, summary demand in trades exceeded offer 5.4 times. Total volume of demand 92.32% (by number of bonds) was controlled by bids of subjects of pension market of Kazakhstan, 7.38% - by bids of Kazakhstan banks, 0.30% - by bids of clients of brokerage-dealers companies. Rate in submitted limited bids varied from 7.00% to 8.00% APR. Average weighted (through volume of bids) rate on all limited bids was 7.21% APR. By the day results floatation is acknowledged by the issuer ineffective due to unacceptable price terms, announced by participants of trades. [2005-12-26]