NAC Kazatomprom admitted primary floatation of its bonds as non- made due to unsatisfactory price parameters of ask
24.05.02 00:00
/KASE, May 24, 02/ - On May 24,2002 in trade system of Kazakhstan stock
exchange there were held specialized trades on [primary floatation of bonds
of National atomic company Kazatomprom CJSC (NAC Kazatomprom,
Almaty) of the first issue included into official listing of the exchange under
category "A" from April 01,2002. According to issue terms, their par value is
indexed at a change of exchange rate of Kazakhstan tenge to USD.
The subject of trades at floatation was "clean" price of bonds (without
accumulated interest) expressed in percents to indexed par value of a
security. Satisfaction of bids at the trades was planned by the issuer at a
single price - cut-off price.
Following are parameters of the issue, trades and bid.
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ISSUE PARAMETERS
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Securities type: Inscribed coupon indexed bonds
Debt type: Senior unsecured
Issue currency: Kazakhstan tenge (KZT)
Servicing currency: Kazakhstan tenge (KZT)
National identification number: KZ2CKY05A523
KASE trade code: KZAPb1
Par value in issue currency: 100.00
Issue volume in issue currency: 2,300,000,000.00
Date of circulation start (issue date): Apr 01,02
Circulation term: 5 years
Maturity date: Apr 01,07
Interest rate: 8.5% APR of indexed par value
Date of coupon payment (interest): October 01 and April 01 each year
Time basis at all settlements: 30/360
Term of register fixing at coupon payment: 30 days prior to payment date
Term of register fixing at maturity: 30 days prior to maturity date
Market-maker at KASE: Fondovyi service CJSC (Almaty)
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SPECIALIZED TRADES PARAMETERS
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Date of trades holding: May 24,2002, 11:30AM - 02:00PM ALT
Announced volume of issue: 300,000,000 tenge in nominal
expression
Share of market bids satisfaction: 0% of actually satisfied demand
Date of payment of bought bonds: May 24,2002, 04:00PM ALT
Exchange rate on floatation date: KZT152.89 per dollar
Exchange rate on issue date: KZT152.41 per dollar
Rate of indexation of par value on
floatation date: 1.003149
Accumulated interest on floatation date: 1.251389% of indexed par value
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BID PARAMETERS
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Number of participants: 6
Number of submitted bids: 12
Volume of submitted bids:
In securities 10,454,000
In tenge on par value 1,045,400,000.00
In tenge on discount 1,019,924,901.58
Bid to ask: 348.5%
Bid prices (yield semiannual basis):
Minimum 94.3205 % (10.00% APR)
Maximum 96.5297% (9.40% APR)
Weighted average 96.0102 % (9.54% APR)
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In general volume share of bids submitted due to pension assets of
accumulative pension funds accounted for 54.1%. The share of banks
accounts for 24.8% of bid volume in nominal expression, the share of
brokers' clients - 20.6%, brokers' share - 0.5%.
Having analyzed bid parameters the issuer refused from floatation since
these parameters were considered as unsatisfactory.
[2002-05-24]