KASE CHANGED METHODOLOGY OF MARKET PRICE CALCULATION OF BONDS KZ2CKY23B672 OF DOSZHAN TEMIR ZHOLY JSC (DTZ) DUE TO SHARP CHANGE IN COUPON INTEREST RATE
04.08.08 21:03
/KASE, August 4, 08/ - Kazakhstan Stock Exchange (KASE) informs that on
August 4, 2008, KASE Risk Committee decided at market valuation of
infrastructure bondsKZ2CKY23B672 (KASE category "A" official list, DTJLb1;
KZT1 000, KZT30.0 bn.; August 2, 05 - August 2, 28, the annual coupon indexed
on the inflation rate, 19.95 % APR for the current coupon period) of Doszhan
Temir Zholy JSC (DTZ):
- shall be used as the market price arithmetical mean of "net" prices of best
orders for purchasing bonds of this denomination, which were submitted to
KASE trading system during the last ten business days, preceding the first
business day of the current week (August 4, 2008);
- calculate the market yield to maturity of mentioned bonds as of August 4,
2008, using received by above mentioned method market price.
The decision was made due to significant changing from August 2, 2008 of the
coupon interest rate on mentioned bonds and impossibility due to this applica-
tion of the algorithm of DTJLb1 market price determination, stipulated by KASE
internal document "Methodology of Securities Valuation".
[2008-08-04]