Trades in coupon bonds of OJSC "Almaty Kus" (Kazakhstan) will start at KASE on May 2
28.04.00 00:00
/IRBIS, Apr.28, 00/ - Kazakhstan stock exchange (KASE) informs that based
on the decision of the Exchange council, dated April 7, 2000, from May 2,
2000 coupon bonds of OJSC "Almaty Kus" (KASE official list of securities,
category "A", KZ2C3AF64A13, trade code - ALKSb) of the first issue will be
entered into trades in the sector of "Listed corporate bonds".
KASE has specified following quotation order for ALKSb.
When making bids face value of the bonds being sold or bought should be
indicated as the number of securities. Face value should be indicated in the
currency they were issued in - U.S. dollars. Trade system will automatically
make necessary calculations and send the number of bonds to the Central
Depository (CD).
Prices of the bonds should be indicated in percents to their face values,
excluding accumulated interest with double digit accuracy.
When making a report on the deal for the CD accumulated interest will be
automatically added to the clean price of the deal and the price will be
recalculated in Kazakhstani tenges automatically. Accumulated interest will
be computed based on 30/360 time basis (30 days in a month, 360 days in a
year), and the prices will be recalculated at weighted average rate of the
tenge against the U.S. dollar of the Exchange, effective on the day the deal
is made.
Accounts are settled using T+0 time schedule.
We remind, that the bonds of OJSC "Almaty Kus" were entered into official
list of KASE of category "A" by the decision of the Board of KASE, dated
April 11, 2000 on the basis of the decision of the Exchange council, dated
April 7.
Bonds are denominated in U.S. dollars. Face value is $100. Total volume of
the issue at face value is $4.5 mln. Coupon is semiannual. Coupon rate is
14% APR. Coupon payment dates - October 14, 2000 and April 14, 2001.
Interest is paid in Kazakhstani tenges at weighted average rate of KASE,
effective on the maturity date. Maturity date is April 14, 2001. The bonds are
repaid by paying off the principal in tenges at weighted average rate of
KASE, effective on the maturity date.
On April 25 initial additional placement of OJSC "Almaty Kus" bonds for a
total of $340 mln was held at KASE. Actual yield to maturity, calculated on
semiannual basis, varied between 14.44 and 15.40% APR. Weighted
average rate of the bonds equaled 15.00% APR.
By the decision of the Board of KASE, dated April 11, 2000, the member of
the Exchange - OJSC "Kazkommerts Securities" (Almaty) - was given a
status of a market-maker of OJSC "Almaty Kus" bonds. The market-
maker is start working on the trade floor on May 2. The minimum volume of
mandatory quotations for OJSC "Kazkommerts Securities" for these
securities was set at 30 bonds. It is the size of the block that should be
available during the all trading day at KASE at any time.
We also remind, that on the same day - May 2 - the trades in other
securities of OJSC "Almaty Kus" will start as well: common inscribed
(KZ1C31690513, trade code ALKS) and preferred inscribed
(KZ1P31690518, trade code ALKSp) shares. The market-maker of these
securities is also OJSC "Kazkommerts Securities". Volume of mandatory
quotations - 32,000 shares.