26.01.04 00:00
/KASE, January 26, 04/ - Today, during the trades in state interest (shares) in UST-KAMENOGORSK TITANIUM MAGNESIUM COMBINE open joint-stock company (UKTMC OJSC, Ust-Kamenogorsk) at Kazakhstan Stock Exchange (KASE), portfolio of shares owned by the government and consisting of 107,910 (10.0% of total floated shares of UKTMC OJSC, trade code of state interest - NZ_UTMK_10). The mentioned amount is an equivalent of USD5,571,095.48 at today's weighted- average exchange's rate of tenge relative to dollar (KZT139.50 per $1). The portfolio was traded in tenge per one share by open trades method, in the course of which parties agreed on price of KZT6,500.00 per share. The seller lower his quote from KZT15,000, buyers raised it from KZT2,500. after reaching a consensus at above mentioned price, trades were opened by Frankfurt's method. During these trades, two buyers competing between each other, had changed their prices 30 times, increasing it a bid by bid. As a result a deal was concluded at KZT7,202.00 per share ($51,63). According to exchange's rules, proceeds from shares sale must be transferred by the buyer to a corresponding account of Central Depository of Securities CJSC (Almaty) within seven working days after deal conclusion. Only in this case a deal may me considered as valid. It worth noting that according to actual past data on trades in shares of UKTMC OJSC at KASE - from October 28, 1997 - the price of these securities has never been so high. The previous record high ($50.0 per share) was registred at the exchange on July 26, 1999 with the volume of 1,000 shares. UTMK price on the last deal, registered at open market, was registered on December 25, 03 in amount KZT6,145.00 or $42.69 with 3,091 shares volume. According to financial statements, book value of its shares as of October 1, 03 was KZT6,910.02. Trades in another 59,350 shares of UKTMC OJSC (5.5% of total outstanding shares, code NZ_UTMK_5.5), which are sold without lot constraints (one lot consists of 1 share) did not result in successful deals. The seller stated the ask at KZT7,000 per share, but then withdrawn his order almost immediately. The demand was absent. According to the official information, which is not yet not confirmed by the Committee of state property and privatization of the Ministry of Finance of the Republic of Kazakhstan trades in these shares will be continued tomorrow. [2004-01-26]