REVIEW: KASE share market in November, 2010

/IRBIS, December 21, 2010/ - In November 2010, on the Kazakhstan Stock Exchange (KASE) on shares in all sectors recorded 1,837 deals worth KZT11,406.5 million or $77.3 million dollars at the current rate at the date of the transaction. This represents 35.1% of the monthly volume of transactions on the market corporate securities KASE (in October 2010 - 93.1%) and 0.3% of the total exchange monthly turnover (8.4%). The sharp decline in the volume of transactions on the shares in November due to significant growth in the previous month, which, in turn, was caused by selling a large block of shares on Oct. 5, 2010 (95.7% of the total transactions in November). Recall that on October 5 KAZAKHMYS Company PLC (London) reported that the Chairman of the Board of Directors Mr. Vladimir Kim has sold 58,876,793 ordinary shares at 20 pence each, roughly equivalent to 11% of the shares of the Group. The operation was performed on the Kazakhstan Stock Exchange at a price of KZT3,363 per share, which corresponds to the price of 1.423 pence per share at the close of LSE on Oct. 4, 2010. The shares were purchased by the Fund of National Welfare SK. V. Proportion of Mr. Kim in the company amounted to 149,306,795 ordinary shares (27.9% of the shares of the Group) after the sale of shares of SK. The Government of the Republic of Kazakhstan increased its stake in the company to [139,162,843] ordinary shares (26% of the shares of the Group), which includes a 15% stake held by the Committee for State Property and Privatization Ministry of Finance of the Republic of Kazakhstan. In November 2010, on the KASE increased average daily prices of 41% of the names of shares (in October 2010 - 28%), decreased - 36% of names (48%), prices of 18% of the shares has not changed (24%), 5% of shares traded the first time. Maximum trends for the month showed the following tools: RDGZp increased by 14.0%, ATFB fell by 57.1%. In October 2010, the maximum trends showed ZERD (+46.4%) and ZNGRp (-100.0%). On the London Stock Exchange (LSE) equity securities of Kazakhstan companies have demonstrated in the month following results: GDR JSC KazMunaiGas grew by 11.6% (in October 2010 fell by 2.7%), KAZAKHMYS PLC - 5.3% (-9.4%), Halyk Savings Bank of Kazakhstan "- on 4.2% (+8.3%), ENRC - 0.9% (-5.2%), the value of the GDR JSC Kazkommertsbank virtually unchanged (-4.1%). Below are tables describing the stock market KASE more than enough in November 2010. Table 1. Statistical characteristics of KASE share market in November 2010 ------------------------------------------------------------------------------- Trend to -------------------------- Indicator November 2010 October 2010 November 2009 -------------------------------------- ------------- ------------ ------------- Trade volume, th. USD 77,308.3 17.9 times 34.1 times Trade volume, m. KZT 11,406.5 17.9 times 34.4 times Deals 1,837 +12.9% -9.6% Instruments in deals 23 -11.5% -20.7% Daily average of deals 87 +12.9% -13.9% Daily average volume of deals, th. USD 3,681.3 17.9 times 35.8 times Daily average volume of deals, m. KZT 543.2 17.9 times 36.1 times Stock of direct deals (number), % 0.4 +0.1 pp +0.3 pp Stock of direct deals (volume), % 0.9 +0.8 pp +0.9 pp Pension assets, % gross 3.7 +3.2 pp +3.4 pp Individuals, % gross 37.6 -12.7 pp +37.1 pp Non-residents, % gross 18.5 +18.3 pp -31.1 pp KASE members, concluded deals 38 0 -2.6% Market concentration, % 55.3 -41.7 pp -43.5 pp ------------------------------------------------------------------------------- * indicates the percentage of the total turnover of shares, which accounts for most traded securities (their number is 5% of the total number of titles of shares involved in the transaction). Tab. 2. Industrial characteristics of KASE share market* ------------------------------------------------------------------- Stake of total volume of market (%): ------------- ---------- ------------- Industry November 2010 Sept. 2010 November 2009 ---------------------------- ------------- ---------- ------------- Power energy 75.8 0.9 98.8 Discretional consumer sector 14.5 0.5 0.8 Finance 6.8 0.2 0.3 Raw material sector 2.0 97.0 0.1 Telecommunications services 0.8 0.7 0.03 Industry 0.1 0.03 0.0001 Main consumer sector 0.0003 0.7 0.05 Public services - - 0.004 Public health - - 0.0004 Information technologies - - 0.0001 ------------------------------------------------------------------- * Industrial Classification turnover structure prepared in accordance with rubricator Global lndustry Classification Standard (GICS) Standart and Poor's Tab. 3. KASE index dynamics in various periods at the moment of trade close as on November 29, 2010 (basis actual/365) --------------------------------------- Trend in: ----------- Period % % APR --------------------------- ----- ----- For preceding 30 days +5.2 +63.1 Since the beginning of 2010 -9.5 -10.4 For last 365 days (year) -12.9 -12.9 In 2009 +95.7 +95.7 Form the beginning of 2009 -39.3 -13.5 --------------------------------------- Tab. 4. Main indicators of exchange purchase and sale share market in November 2010 ---------------------------------------------------------------- Market Volume of Volume of capitalization, deals, deals, Number Date m. USD KASE index th. USD m. KZT of deals -------- --------------- ---------- --------- --------- -------- 29.10.10 53,015.9 1,521.60 77.4 3,908.6 49 01.11.10 53,553.3 1,528.08 100.8 209.1 51 02.11.10 52,489.2 1,525.17 176.1 151.6 78 03.11.10 52,466.8 1,534.98 497.5 199,271.1 107 04.11.10 54,704.4 1,562.69 259.7 156.9 83 05.11.10 56,192.9 1,595.49 207.1 195.1 94 08.11.10 57,255.7 1,628.56 123.8 278.2 104 09.11.10 58,170.4 1,655.14 115.7 1,799.7 70 10.11.10 57,374.6 1,643.71 709.8 94.3 75 11.11.10 57,912.0 1,672.15 320.9 174.0 122 12.11.10 57,653.6 1,647.21 315.3 326.3 93 15.11.10 57,476.5 1,647.73 133.8 197.9 45 17.11.10 56,018.7 1,625.89 180.1 127.6 59 18.11.10 56,391.8 1,619.61 119.5 121.4 68 19.11.10 57,128.0 1,644.13 293.9 275.2 95 22.11.10 56,968.2 1,654.62 532.5 165.8 73 23.11.10 57,023.7 1,638.08 163.6 62.5 62 24.11.10 56,001.6 1,624.70 148.6 50.8 46 25.11.10 56,605.2 1,634.67 106.3 153.2 63 26.11.10 56,019.2 1,618.81 120.2 139.3 44 29.11.10 55,429.9 1,607.89 152.4 240.6 54 30.11.10 55,081.1 1,600.50 6,628.9 77.4 351 -------- --------------- ---------- --------- --------- -------- Trend 2,065.3 78.9 % +3.9 +5.2 ---------------------------------------------------------------- Tab. 5. Changes in shares tradable on KASE in November 2010 ------------------------------------------- Shares: Issuers: Admission ----- ----- ----- ----- category Numb. trend Numb. trend ------------------- ----- ----- ----- ----- First 17 0 11 0 ------------------- ----- ----- ----- ----- Second 22 -5 17 -3 Third 57 +5 47 +4 Investment funds` 2 0 2 0 securities Unlisted securities 13 +1 9 +1 ------------------- ----- ----- ----- ----- Total 111 +1 81 -1 ------------------------------------------- Tab. 6. Results of trades in shares on KASE in November 2010 (according to data on deals, concluded on the secondary market by open trade method) ------------------------------------------------------------------------------ Price, tenge per share: ----------------------------------------------------- Volume Number by last deal for last 365 days Share --------------- ------------------- of deals, of symbol min. max. price trend% min max th. USD deals ------- -------- -------- -------- ------ -------- ---------- --------- ------ ATFB 5000.00 5000.00 5000.00 4000.00 5300.00 0.1 1 AZNOp 1100.00 1100.00 1100.00 1100.00 1100.00 1.4 2 BSUL 630.00 630.00 630.00 0 200.00 630.00 91.4 14 BTAS 6.97 9.50 7.00 -22.2 5.00 2300.00 884.9 346 CCBN 541.00 600.00 585.00 -1.7 515.00 946.00 1,626.6 129 EXBN 1090.01 1090.01 1090.01 0 730.00 1090.01 237.2 1 GB_ENRC 2001.00 2387.50 2100.00 0 1800.00 2800.00 347.0 67 GB_KZMS 3060.00 3650.00 3180.00 +4.2 2155.00 3699.00 1,235.0 96 HSBK 320.00 370.00 350.00 +7.7 250.00 400.00 7,200.8 102 KASE 3750.00 3800.01 3800.01 -36.7 3750.00 6000.00 188.0 3 KAZIp 370.00 370.00 370.00 -5.1 212.00 390.00 0.2 4 KKGB 420.00 460.00 437.00 +5.3 356.00 710.00 153.3 34 KKGBp 215.00 215.00 215.00 0 195.00 310.00 0.4 1 KZTK 15100.00 17500.00 17200.00 +9.6 11800.00 19800.00 4,961.3 171 KZTKp 7405.00 8250.00 8100.00 -0.5 6000.00 8910.00 292.3 16 RDGZ 15155.01 17875.00 17001.00 +10.4 15155.01 24300.00 473.7 46 RDGZp 14750.01 17350.00 16800.00 +11.1 10800.00 21988.89 15,186.6 475 SATC 71.06 71.09 71.08 0 70.00 75.00 194.2 22 TSBN 865.00 940.00 865.00 -8.0 865.00 980.00 226.1 6 ZERD 1.60 1.75 1.60 -9.1 0.67 7.01 16.3 7 ZERDp 5.21 5.40 5.40 +3.6 5.00 5.70 572.6 11 ZNGRp 298.00 298.00 298.00 -0.04 298.00 1250000.00 0.1 1 ------- -------- -------- -------- ------ -------- ---------- --------- ------ 25 33,889.4 1,555 ------------------------------------------------------------------------------ Notes: The table provides data on the shares. in which the deals were concluded by one of the open trade methods. Trends (change in %) are provided in relation to the last deal of the preceding month (October 1 - 31, 2010). Trend is not computed. if there were no deals in the preceding month. Tab. 7 Top 10 most liquid shares of KASE in November 2010 including STF RFCA ----------------------------------------------------------------------------- Liquidity indicator calculation base (Kl): ------------------------------------------ Rank ------------- volume number number November Apr. Share Liquidity of deals. number of KASE resultant 2010 2010 symbol indicator Kl m. KZT of deals members days -------- ---- ------- ------------ ----------- ---------- -------- ---------- 1 2 RDGZp 2.97 8,547.9 750 28 21 2 1 BTAS 1.97 130.5 346 29 21 3 7 HSBK 1.52 1,061.6 102 26 18 4 3 CCBN 1.51 239.9 129 24 21 5 5 KZTK 1.49 732.1 171 21 21 6 4 GB_KZMS 1.28 182.3 96 22 16 7 10 GB_ENRC 1.25 51.2 67 21 18 8 6 RDGZ 0.96 69.9 46 15 16 9 8 KKGB 0.88 22.6 34 16 12 10 9 SATC 0.66 28.6 22 10 12 ----------------------------------------------------------------------------- Notes: For calculation of Kl only data on deals concluded in KASE secondary market sector by one of the open trade methods are accounted. The methodology of calculation of this indicator is available in the corresponding section of the document, released at http://www.kase.kz/mix/rsp.pdf in Russian and at http://www.kase.kz/eng/mix/rsp.pdf in English. Tab. 8. Top 10 most capitalized listing companies of KASE. shares of which were listed on the official list of securities of the Exchange (as on the moment of trades close on the indicated dates) ------------------------------------------------------------------------------- As on 30.11.2010: As on 29.10.2010: Trend: ---------------------- ---------------------- --------------- Short or capitali- company capitali- company capitali- contraction name zation stake zation stake zation stake of company rank m. USD % rank m. USD % m. USD pp ----------------- ---- --------- ------- ---- --------- ------- --------- ----- ENRC PLC 1 18,324.1 33.27 1 18,340.0 34.59 -15.9 -1.33 KAZAKHMYS PLС 2 11,598.3 21.06 2 11,022.1 20.79 +576.1 +0.27 RD KazMynaiGas 3 8,530.7 15.49 3 7,742.8 14.60 +787.9 +0.88 Halyk Bank 4 3,577.1 6.49 4 3,358.2 6.33 +218.8 +0.16 Mangystaumynaigas 5 2,663.1 4.83 5 2,664.3 5.03 -1.3 -0.19 Кazkommercbank 6 2,487.7 4.52 6 2,372.8 4.48 +114.9 +0.04 Каzakhtelekom 7 1,333.5 2.42 7 1,220.9 2.30 +112.6 +0.12 ATFBank 8 1,300.7 2.36 8 1,041.0 1.96 +259.6 +0.40 Bank CentreCredit 9 644.0 1.17 9 648.7 1.22 -4.7 -0.05 Nurbank 10 577.9 1.05 10 578.2 1.09 -0.3 -0.04 ------------------------------------------------------------------------------- Notes: The company stock % - an indicator, received by cutting off market capitalization of the company to total capitalization of exchange market share of official list of securities of KASE and expressed in percent. As of the market close, November 30, 2010 this indicator made USD55,081.1 mln. 96 shares of 70 issuers were listed on the official list of KASE. [2010-12-21]