KASE changes duration of period for generation of selection of orders for market valuation of corporate bonds of 29 titles

12.05.14 16:03
/KASE, May 12, 14/ – Kazakhstan Stock Exchange (KASE) notifies you that following a decision of the Committee on Indices and Securities Valuation of May 12, 2014 parameters of corporate bonds of 29 titles were changed for market valuation for the period from May 12 to 18, 2014. The market price of the following bonds was calculated taking into account the extension of the selection period for purchase orders, whose parameters are used for the valuation to: 32 working days preceding the date of market valuation, from March 19, 2014, on bonds: - KZP01Y05E368 (KZ2C00001907, KASE official list, Rated Debt Securities category, AZHKb1) of Alatau Zharyk Company (Almaty); - KZPO1Y05T319 (KZ2C00001840, KASE official list, Rated Debt Securities category, CACMb2) of Central Asia Cement (Temirtau); 31 working day preceding the date of market valuation, from March 20, 2014, on international bonds of Alliance Bank (Almaty): - XS0496645085, XS0496645242 (KASE official list, Rated Debt Securities category, АSBNe9); - XS0496645671, XS0496645838 (KASE official list, Rated Debt Securities category, АSBNe12); - XS0496645911, XS0496646059 (KASE official list, Rated Debt Securities category, АSBNe13); 30 working day preceding the date of market valuation, from March 26, 2014, on bonds of Imstalcon (Almaty): - KZP01Y07D549 (KZ2C00000412, KASE official list, first sub-category of Non-Rated Debt Securities category, IMSKb1); - KZP02Y07D547 (KZ2C00000446, KASE official list, first sub-category of Non-Rated Debt Securities category, IMSKb2); - KZP01Y07D747 (KZ2C00000420, KASE official list, Rated Debt Securities category, IMSKb3); on bonds of Temirbank (Almaty): - KZ2C0Y20A641 (KZ2C00001485, KASE official list, Rated Debt Securities category, TEBNb3); - KZP01Y20B553 (KZ2C00000024, KASE official list, Rated Debt Securities category, TEBNb4); - KZP01Y17B559 (KZ2C00000032, KASE official list, Rated Debt Securities category, TEBNb6); - KZP04Y19B559 (KZ2C00000040, KASE official list, Rated Debt Securities category, TEBNb7); - KZP05Y16B552 (KZ2C00000057, KASE official list, Rated Debt Securities category, TEBNb8); - KZP07Y20B550 (KZ2C00000065, KASE official list, Rated Debt Securities category, TEBNb10); - KZP08Y25B557 (KZ2C00000073, KASE official list, Rated Debt Securities category, TEBNb11); - KZP01Y13C333 (KZ2C00000099, KASE official list, Rated Debt Securities category, TEBNb12); - KZP02Y15C336 (KZ2C00000081, KASE official list, Rated Debt Securities category, TEBNb13); - KZP03Y19C336 (KZ2C00000107, KASE official list, Rated Debt Securities category, TEBNb14); - KZP04Y19C334 (KZ2C00000115, KASE official list, Rated Debt Securities category, TEBNb15); - KZP05Y20C339 (KZ000A1AT8V6, KASE official list, Rated Debt Securities category TEBNb16); - KZP06Y20C337 (KZ2C00000123, KASE official list, Rated Debt Securities category, TEBNb17); - KZP07Y10C336 (KZ2C00000461, KASE official list, Rated Debt Securities category, TEBNb18); 29 working day preceding the date of market valuation, from March 27, 2014, on bonds: - KZP01Y03E421 (KZ2C00001923, KASE official list, Rated Debt Securities category, ALESb1) of Almatinskie Elektricheskie Seti (Almaty); - KZP01Y05E590 (KZ2C00002483, KASE official list, Rated Debt Securities category, KTGAb1) of KazTransGas Aimak (Astana); - USY8584LAA18, US87971SAA87 (KASE official list, Rated Debt Securities category, TEBNe1) of Temirbank (Almaty) ; 28 working day preceding the date of market valuation, from March 28, 2014, on bonds: - KZP01Y07D994 (KZ2С00001592, KASE official list, Rated Debt Securities category, AKFIb3) of AMF Group (Astana); The market price of bonds KZP01Y05D782 (KZ2C00000339, KASE official list, Rated Debt Securities category, KIBNb5) is calculated considering the reduced period of selection of purchase orders whose parameters were used for their valuation to five working days preceding the market valuation date, from April 30, 2014. The market price of the following bonds was calculated taking into account a decrease in the period of orders for purchase, whose parameters have been used for their valuation to six days preceding the market valuation date, namely orders from April 29, 2014 were used: on bonds of Delta Bank (Almaty): - on bonds KZP01Y05E178 (KZ2C00001709, KASE official list, Rated Debt Securities category, NFBNb2); - on bonds KZP02Y10E176 (KZ2C00002038, KASE official list, Rated Debt Securities category, NFBNb3); This decision was taken based on sub-item 2) of item 40 of the Methodology of Securities Valuation (hereinafter – the Methodology) based on the overly high magnitude of fluctuations of prices of the said bonds during their reassessment on the fair value carried out in accordance with: - Rules of valuation of financial, instruments contained in portfolios of accumulative pension funds approved by resolution No. 109 of the Agency of the Republic of Kazakhstan on Regulation and Supervision of Financial Market and Financial Organizations of March 26, 2005; - Rules of accounting and evaluation of pension asserts approved by resolution No. 186 of the Management Board of the National Bank of the Republic of Kazakhstan of July 26, 2013. Earlier KASE notified that by decision of KASE Management Board as of April 7, 2014 ASYL-INVEST (Almaty) was compulsorily stripped of the status of a market-maker on KASE for securities of 35 titles due to removal of this joint-stock company from participation in trades after suspension of its license by the National Bank. This circumstance has led to absence in the KASE trading system for two weeks of quotations necessary for the market valuation of the said bonds. Valuation of the said bonds on fair value (on discount rates) in accordance with the above-mentioned rules would lead to a change in the market price of particular securities by 50–99 % at full absence of transactions on the market, i.e. any significant grounds for such serious reassessment on the market are absent. Thus, for calculation of market price on the mentioned bonds KASE used 120 consecutive orders submitted by the bond market-maker from dates mentioned earlier, except for international bonds of Kazinvestbank JSC, on which orders submitted only by the new market-maker as of April 30, 2014 were used, and two bonds of Delta Bank JSC, on which also orders submitted only by the new market-maker as of April 29, 2014 were used. The text of the Methodology is available on KASE website at http://www.kase.kz/files/normative_base/met_ocen_zb.pdf All persons interested with regard to the Methodology and procedure of calculating market prices can turn to KASE Information and Analysis department at tel. (727) 237 53 18, e-mail: info@kase.kz. KASE news of April 7, 2014 "ASYL-INVEST is debarred from securities trading on KASE" is available on KASE website at http://www.kase.kz/en/news/show/1216391 KASE news item of May 6, 2014 "Private Asset Management is assigned the market maker status on KASE on Alliance Bank bonds of five issues from May 11" is available on KASE website at http://www.kase.kz/en/news/show/1218858 KASE news item of May 4, 2014 "Private Asset Management is assigned the market maker status on KASE on bonds of Imstalcon from May 6" is available on KASE website at http://www.kase.kz/en/news/show/1218486 KASE news item of April 30, 2014 "ZIM Capital is assigned the market maker status on KASE on Temirbank bonds of fifteen issues from May 6" is available on KASE website at http://www.kase.kz/en/news/show/1218397 KASE news item of May 4, 2014 "BCC Invest - Bank CenterCredit Subsidiary is assigned the market maker status on KASE on bonds KZP01Y03E421 (KZ2C00001923, ALESb1) of Almatinskie Elektricheskie Seti from May 5" is available on KASE website at http://www.kase.kz/en/news/show/1218484 KASE news item of April 30, 2014 "Bank CenterCredit Subsidiary - BCC Invest is assigned the market maker status on KASE on bonds KZP01Y05E590 (KZ2C00002483, KTGAb1) of KazTransGas Aimak from May 5" is available on KASE website at http://www.kase.kz/en/news/show/1218396 KASE news item of April 30, 2014 "Alibi Securities is assigned the market maker status on KASE on bonds KZP01Y07D994 (KZ2C00001592, AKFIb3) of AMF Group from May 4" is available on KASE website at http://www.kase.kz/en/news/show/1218392 KASE news item of April 29, 2014 "Nurbank Subsidiary MONEY EXPERTS is assigned the market maker status on KASE on Kazinvestbank bonds KZP01Y05D782 (KZ2C00000339, KIBNb5) from April 30" is available on KASE website at http://www.kase.kz/en/news/show/1218221 KASE news item of April 28, 2014 "BCC Invest - Bank CenterCredit Subsidiary as of April 29 assigned status of market-maker on KASE for securities of Delta Bank" is available on KASE website at http://www.kase.kz/en/news/show/1218184 [2014-05-12]