Subscription to ordinary shares GG00BD3DTC15 (GG_FERR) of Ferro-Alloy Resources Limited failed

/KASE, July 24, 2017/ – As previously reported, from July 1 to 21, 2017 an initial offering of ordinary shares GG00BD3DTC15 (KASE alternative market, sector "shares", GG_FERR) of Ferro-Alloy Resources Limited (Guernsey) in subscription was conducted in KASE trading system. Tengri Capital MB acted as a subscription seller. 30,000 shares were offered at KZT34,500 per share. Having reviewed the summary list of the orders submitted, the seller informed KASE of the following. quote We hereby inform you that, upon the order collection deadline for subscription to shares of Ferro-Alloy Resources Limited (Issuer), the volume and allocation of orders received during the subscription period on the retail tranche on Kazakhstan Stock Exchange (KASE) were insufficient regarding the adequate liquidity of the Issuer's shares on the secondary market. In this regard, the Issuer decided to decline all the orders received. The issuer will continue discussions with potential strategic / financial investors to raise funds for its investment program, and plans to list its shares on the London Stock Exchange (LSE) by the end of this year. In accordance with the legislation of the Republic of Kazakhstan, the shares will be offered in parallel on KASE and LSE, and the dual listing is expected to provide much greater liquidity to the Issuer's shares. Based on the above, Tengri Capital MB asks to declare a subscription to common shares of Ferro-Alloy Resources Limited failed. unquote [2017-07-24]