KASE to forcedly deprive Bank TuranAlem OJSC of status of market-maker on IFO's bonds of two issues

/KASE, April 28, 03/ - By the decision of Kazakhstan stock exchange's (KASE) Board dated April 28 of 2003, in accordance with paragraph 18 of the article 6 of the Rules of market-makers' activity Bank TuranAlem OJSC (Almaty) since April 28 of 2003 has been forcedly deprived of market-maker's status at KASE on bonds of international financial organizations(IFO) of two isues: - mid-term euronotes of senior unsecured debt of International bank of reconstruction and development (XS0092711802, KASE's code is IBRDU251113, $500.0 m, November 25, 98 - November 25, 13, annual coupon 5.500% APR); - global notes of senior unsecured debt of Asian development bank (US045167BH53, ADB_U040912, $500.0 m, September 4, 02 - September 4, 12, semi-annual coupon 4.500% APR). The mentioned securities were admitted to circulation at KASE by the decision of KASE's Board dated November 19 of 2002. The necessity of forced deprivation of the market-maker's status follows from the decision of the KASE's Board dated April 28 of 2003, according to which the stock exchange had to remove all members of the stock exchange of "K" category, which were second tier banks, from participating in trades in IFO's securities at theна KASE since April 28 of 2003, because such the participation contradicts to norms of Kazakhstan banking legislation. [2003-04-28]