March 5 special trading session to offer bonds KZ2C0Y10D695 (KZ2C00001519, SKENb1) of SevKazEnergo (Kazakhstan) on KASE declared failed

/KASE, March 5, 13/ – A special trading session for offering of bonds KZ2C0Y10D695 (KZ2C00001519, KASE official list, Rated Debt Securities category, SKENb1; KZT100, KZT8.0 bn; January 10, 2010 – January 10, 2020; semi-annual coupon 12.50 % APR; 30/360) of JSC "SevKazEnergo" (Petropavlovsk) was held today in KASE trading system. The declared volume of offering was 13,000,000 bonds KZ2C0Y10D695 (16.3 % of the total number of authorized bonds of this issue). The trades' subject was the bonds' "net" price (excluding interest accrued) expressed in percentage of the security's face value accurate within the fourth decimal. Orders were submitted by the closed method from 11:30 to 15:30 Almaty time (ALT). Only limited orders were accepted to trades. The method of purchasing orders satisfaction – at prices equal to the cut-off price or prices more favorable for the seller. The settlements scheme – Т+0. Two KASE members took part in the trading, submitting six orders of which five orders for purchase of 3,017,000 bonds remained active as at the moment of closing of the order submission period. Thus the ask made up 23.2 % of the bid at the trading session. The "net" prices in the active orders were at levels 104.6149 % (11.5000 % APR), 107.0506 % (11.0000 % APR) and 109.5619 % (10.5000 % APR), making up on weighted average 109.1898 % (10.5731 % APR to maturity for a buyer). In the total volume of active orders a brokerage firm accounted for 24.9 %, its clients – for 75.1 %. Having considered the combined statement of orders submitted the issuer has announced his refusal to accept them due to the offered prices' being higher than expected. The special trading session was declared failed. [2013-03-05]