/KASE, December 26, 03/ - Kazakhstan stock exchange (KASE) notifies that
on December 26 of 2003 there will be held specialized trades on primary
additional floatation of indexed on inflation level mortgage bonds of
Kazakhstan Mortgage Company CJSC (Almaty) of the third issue
(KZ2CKY10A986; KZIKb3, KZT1, KZT5.0 bn.; December 1, 03 - April 1, 14;
semi-annual coupon with floating rate, for the first half-year - 8.3% APR,
30/360).
During the trades the issuer plans to offer bonds for total face value of
KZT856.3 m. (17.1% of registered issue volume).
The specialized trades will be held in KASE's trade system from 11.30 a.m.
to 1.00 p.m. of Almaty time. The issuer will decide on cut off point at the
same date before 2:30 of Almaty time. Bonds purchased at the trades are to
be paid for by purchasers before 4:00 p.m. of Almaty time on December
26 of 2003 (by the scheme T+0).
On the reason trades in KZIKb3 have been opened at the secondary market
already, these bonds at the specialized trades will have trade code
KZIKb3А.
Both limited (competitive in GS market's terminology) and market
(uncompetitive) bids are admitted to the trades. Stake of market bids
satisfaction is 70%.
Bonds' gross price (with accumulated interest) expressed as percentage of
security's face value with the accuracy of four decimal figures is to be shown
in bid as the price.
Number of financial instruments in a bid is to be equal to total face value of
the securities in Kazakhstan tenge, divisible by one bond's face value.
Accumulated interest on the bonds on trades holding date is to be calculated
for 25 full days of security's circulation, including December 1 of 2003 (bonds
circulation start date) and excluding December 26 of 2003 (settlement date
by the results of the trades).
Methods of satisfaction of bids for purchase is at cut-off price. The issuer
will satisfy all bids, prices in which will be higher than cut-off price, and
also all or a part of bids, prices in which will be equal to cut-off price. In
the latter case bids submitted to KASE's trade system earlier will be
preferred. Step during determination of cut-off price is one ten-thousandth of
the price.
Bids can only be submitted by KASE's members of "Р" category (the right to
participate in trades in corporate securities, which have been included into
the stock exchange's official list). Investors may submit their bids through
these juridical persons. Full list of KASE's members of "Р" category has
been published in the stock exchange's web-site at
http://www.kase.kz/kasemembers/.
The floated bonds may be purchased at the expense of Kazakhstan
accumulative pension funds' assets as included in KASE's official "А" listing
category.
Bonds of a given issue were offered at KASE on December 4, 10, 12, 18, 19
and 25 of 2003. Kazakhstan Mortgage Company CJSC floated among
investors 2,365,000,000 bonds (47.3% of the registered volume) at the
forecasted 7.80 - 8.50% APR. Sum of the borrowing was
KZT2,370,664,559.04 (about 16.5 m. dollars at the current stock exchange's
rate). Weighted average forecasted yield of securities to maturity for
purchaser on all conducted floatations is 8.36% APR.
[2003-12-25]