Food Contract Corporation JSC (Astana) floated 1,298 bonds of the first issue at 8.00% APR
25.05.04 19:52
/KASE, May 25, 04/ - Today in Kazakhstan stock exchange's (KASE) trade
system specialized trades on primary floatation of bonds of Food Contract
Corporation JSC (Astana) of the first issue (KZ2CKY05B091; official "A"
listing category; PRKRb1; KZT10,000, KZT3.0 bn.; May 17, 04 - May 17, 09,
annual coupon of 8.0%, actual/actual) were held.
Bonds were states at clean prices (without accumulated interest), expressed
as the percentage of principal amount up to four decimals. Securities are to
be paid immediately according to T+0 settlement convention.
A total of 10 KASE members submitted 32 bids on their own behalf and on
the behalf of clients. By the deadline time there were 17 orders left to buy
273,748 bonds for a total amount of KZT2,649,545,589.28. Therefore,
participants were ready to purchase 88.3% of total volume offered. Clean
prices stated in bids varied from 94.2343% (9.50% APR) to 99.9767%
(8.00%). Weighted average stated price of bids totaled 96.6368% yielding
8.86% APR for the holder. Local pension funds, clients of brokerage firms
and broker -dealer companies itself submitted 88.4%, 9.6%, 1.9% of total
bids, respectively.
The issuer satisfied 2 bids submitted by two KASE members for the
purchase of 1,298 bonds for a total amount of KZT12,99,735.11 at
99.9767% of the face value. The deal price yields 8.00% APR for the holder.
Both of bids were submitted by clients of brokerage firms. The Company
floated only 0.43% of planned volume.
[2004-05-25]