On April 13 specialized trades of KASE for extra offering of KZ2CKY10B315 (KZIKb8) bonds of Kazakhstan Mortgage company JSC were declared abortive due to low ask price

/KASE, April 13, 07/ - On April 13, 2007 specialized trades for extra offering of KZ2CKY10B315 mortgage bonds (KASE's official "A" listing category, KZIKb8; KZT1, KZT5,0 bn.; October 1, 04 - October 1, 14, inflation-indexed semi-annual coupon 7.90% APR for the current coupon period, 30/360) of Kazakhstan mortgage company JSC (Almaty) were held in Kazakhstan stock exchange's (KASE) trade system. At trades the issuer planned to offer 2.5 bn. bonds (50% of the registered issue volume). The subject of trades was he bond price less accrued interest, expressed in percentage of bond par value with accuracy to fourth decimal place. Bids for participation in the offering were submitted by the closed method from 11:30 till 13:00 Almaty time (ALT). Limited and market bids were admitted to trades. Satisfaction share of market bids is 50%. Method of satisfying bids for purchase: limited - at declared price, market - at the weighted average price of non-cut off limited bids. Settlement framework is T+0. One KASE member - organization that manages pension assets, which submitted three limited bids for purchase of 300.0 m. bonds (12.0% of the volume declared to offering). Net price varied in them from 89.1283% (10.00% APR) up to 91.5745% (9.50% APR) and in the weighted average terms totaled 90.2665% (9.76% APR). After examination of the pay-roll record of submitted bids Kazakhstan Mortgage Company JSC informed KASE by the official letter that the offering was declared abortive due to unacceptable for the company ask parameters. [2007-04-13]