July 30 special trading session to buy back bonds KZ2CKY23B672 (KZ2C00000701, DTJLb1) of Doszhan Temir Zholy (DTZ) (Kazakhstan) announced failed

/KASE, July 30, 12/ - The special trading session was held today in Kazakhstan Stock Exchange (KASE) trading system to buy back infrastructural bonds KZ2CKY23B672 (KZ2C00000701, KASE official list Non-Rated Debt Securities second subcategory, DTJLb1; KZT1.000, KZT30.0 bn; August 2, 05 - August 8, 28; annual coupon indexed at inflation rate, 8.75 % APR for the current coupon period; 30/360) of Doszhan Temir Zholy (DTZ) (Almaty). At the trades the issuer planned to buy back 3,853,000 infrastructural bonds KZ2CKY23B672 (13.0 % from the total number of offered bonds of this issue). The trades' subject was the bonds' "net" price (excluding interest accrued) expressed in percentage of the security face value accurate within the fourth decimal. Orders were submitted by the closed method from 11:30 a.m. to 01:00 p.m. Almaty time (ALT). Only limited orders were accepted to trades. The method of purchasing orders satisfaction - at prices of limited counter orders equal to the cut-off price or prices more favorable for a buyer. The settlements scheme - Т+0. Three KASE members participated in the trading, submitting ten orders, of which eight orders for sale of 10,406,000 bonds remained active at the moment of closing of the orders submission period. Thus, the ask at trades exceeded the bid by 2.7 times. The "net" prices of submitted active orders varied from 83.6016 % (11.0 % APR) to 100.00 % (8.7 % APR), having made a weighted average of 91.86672 % (9.8 % APR to maturity for a buyer). In the total volume of active orders pension market entities accounted for 94.8 %, brokerage and dealer companies clients - 5.2%. Having considered the summary list of submitted orders, the issuer refused to satisfy them as proposed prices turned out to be higher than expected. The special trades have been announced failed. [2012-07-30]