At the specialized trades on floatation of East-Kazakhstan bonds of the 2nd issue bid exceeded ask 1.4 times as much

/IRBIS, August 7, 02/ - on August 7 at the specialized trades on primary floatation of municipal coupon indexed bonds of East-Kazakhstan oblast of the second issue (KZF2KY030021, VKU036.002; KZT15,405 тенге; KZT700.0m; August 9, 02 - August 8, 05), which were held at Kazakhstan stock exchange (KASE), bid exceeded ask 1.39 times as much. The bonds were floated by the issuer at face value (KZT15,405 or USD100 at the rate of exchange of the National Bank of Kazakhstan on primary floatation date). Subject of the trade was fixed coupon interest rate, which will be paid by the issue twice a year according to time basis actual/365. A total of 7 bids were submitted to the specialized tradesзаявок from 4 KASE member in the amount of KZT541,485,750.00 with announced floatation volume KZT390.0m. Value of the rate in the submitted bids varied from 8.40% to 9.20%APR and equaled in the weighted average expression on the whole demand to 8.6609%APR. 86.77% of the whole volume of demand fell to the share of commercial Kazakhstan banks, 12.80% - to the share of their corporate clients, 0.43% - to the share of broker-dealer firms. Investors of other categories did not take part in the floatation. List of the submitted bids has been given to the issuer for conducting of the procedure of cutting-off. At the previous primary floatation of the mentioned bonds, which was held at KASE on July 24, 2002, bid exceeded ask 2.10 times as much, and the weighted average coupon rate, calculated on all submitted bids, was on the level of 9.0037%APR. We're reminding that by the results of these trades the issuer refused securities floatation at the offered price parameters. [2002-08-07]