/IRBIS, March 27, 03/ - Today Kazkommerts Securities OJSC (Almaty) presented
IRBIS agency for publication Trade recommendations concerning bonds of
Karazhanbasmunai OJSC (Aktau) of the first issue, (KZ73BAQLBA36; KASE's
official "А" listing category; KARMb1; $100; $20.0 m.; December 20, 00 -
December 20, 03; semi-annual coupon 11.0% APR) dated March 20 of 2003.
According to the recommendations, this instrument is attractive for investors
with its short term till redemption (9 months) and high yield on the level of
9% APR. According to the data of Kazkommerts Securities OJSC at the moment
there are not many companies' bonds with the term of redemption equaling to 9
months at the stock market - they are securities of Karazhanbasmunai OJSC and
internal bonds of KazTransOil CJSC (Astana), whose yield to redemption is
quoted on the level of 7% APR.
In the opinion of Kazkommerts Securities OJSC bonds of Karazhanbasmunai
OJSC have been undervalued by the market and growth of their cost is expected.
From this it follows - buy.
Original version of the Trade recommendations concerning bonds of
Karazhanbasmunai OJSC, which comprises reference data, schedule and
information about the issuer's activity, was published today in the KASE's
web-site in
http://www.kase.kz/emitters/rt_kkb/karm_rk.pdf.
[2003-03-27]