/IRBIS, May 22, 00/ - As it was informed earlier, From May 23 and 26
primary auction for offering common inscribed shares of OJSC "Astana-
finance" (official list of securities, category "B", KZ1C7671418, trade code in
regular mode - ASFI) will be conducted on trade floor of KASE.
Total volume of floatation - KZT3 bln at par value of KZT1,000.00. The issuer
intends to offer 2,000 shares for a total of KZT2 mln.
Purchasing bids in KASE trade system will be accepted daily between
11.30AM and 17.00PM Almaty time. Satisfaction method is based on the
bid price. The offering will be carried out by uninterrupted counter auction
mode (the main trade mode of KASE) in the trade system of the Exchange
as open trades. It means that all auction participants will see bids of other
traders. Unlike a regular trade mode of KASE, purchasing bids should be
made in tenge but not in dollars. The deal volume will be calculated as a
product of a deal's price and the number of purchased shares. In relation
with this system of trades, KASE has introduced a new trade code for
common inscribed shares of Astana-finance - ASFI_AUCTION. Participants
of the auction will use this code in trades.
Distinctive feature of the auction is that the organizers of the project -
issuer, KASE, CJSC "Fondovyi Servis" (Almaty) and OJSC "Halyk Bank of
Kazakhstan (Almaty) - give the private persons in Astana an opportunity to
buy the shares of OJSC "Astana-finance" through Internet.
Monitors connected to the Internet (
http://bird.kase.kz/applets/astana.html
or
http://www.kase.kz/Trades/) will be set up in three branches of OJSC
"Halyk Bank of Kazakhstan" in the capital on which the people can follow the
trades and observe the quotations in real time mode. Also, anyone can make
the bids to purchase the shares. The bids will be transmitted to the
Exchange using remote access system for a quick execution. All settlements
by the results of conducted deals will be made using "T+0" scheme, that is
on the day the bids and the deals were made on.
This project is unprecedented example of using the Internet in Kazakhstan to
conduct the trades in real time mode. Moreover, the implementation of the
project has an exclusive importance to the Exchange that conducts the
program to attract the population to the stock market of Kazakhstan.