Specialized trades of KASE on extra floatation of KZPC2Y05B145 (KZIKb10) issue bonds of Kazakhstan Mortgage company JSC found abortive

/KASE, September 5, 06/ - Today specialized trades on extra floatation of mortgage bonds of Kazakhstan mortgage company JSC (Almaty) of the KZPC2Y05B145 issue (KASE's official "A" category list, KZIKB10; KZT1, KZT5,0 bn.; March 1, 05 - March 1, 10, fixed semi-annual coupon 5.690% APR, 30/360) were held in Kazakhstan stock exchange's (KASE) trade system. This issue is the second in the frames first bonds program which was registered by Kazakhstan agency for financial market and financial organizations regulation and supervision on April 8 2004 to the total of KZT20,0 bn. and tenth issue of the company, which had passed the listing procedure on KASE. The issuer offered to participants 4,350.0 thousands of bonds that was 87% of the registered issue volume. Bonds' "dirty" price (taking into account the accumulated interest) was the subject of the trade. Applications for participation in extra offering of bonds were submitted from 11:30 a.m. till 1:00 p.m. Almaty time (ALT). Only limited bids were accepted to the trades. It was planned to satisfy bids at stated price after making cut-off procedure. One KASE member - broker-dealer company took part in the trades by submitting two bids for purchasing 300.0 m. bonds for KZT260,000,000.00. Thus, demand on the trades made 6.9% from the announced volume. The dirty price in the applicated bids was equal to 80.0000% (13.04% APR to yield to maturity for buyer) and 90.0000% (9.13% APR). The average weighted price made 86.6667% which corresponds to average weighted semi-annual yield of securities to maturity for buyer in size of 10.3330% APR. In the total volume of demand 33.33% came to bid of company, given from its name, and 66.67% - given from the name of broker's client. The mentioned demand parameters were inappropriate for the issuer. The trades have been recognized as ineffective because of unsatisfactory prices stated in bids. [2006-09-05]