/KASE, June 11, 04/ - Kazakhstan stock exchange (KASE) notifies that from
June 14 to 18 of 2004 specialized trades on primary additional floatation of
bonds of Food contract corporation JSC (Astana) of the first issue
(KZ2CKY05B091; official "A" listing, PRKRb1; KZT10,000, KZT3.0 bn.; May
17, 04 - May 17, 09; semi-annual coupon of 8.0% APR, actual/actual) will be
held at KASE.
The issuer plans to offer 29,000 of bonds.
The specialized trades will be held in KASE's trade system from 11.30 a.m.
to 2.00 p.m. of Almaty time (ALT). The issuer will decide on cut off point
before 3:00 p.m. of Almaty time on the day of trades holding. Bonds
purchased at the trades are to be paid by purchasers before 4:00 p.m. of
ALT on the same day following T+0 settlement convention.
Bonds' clean price (without accumulated interest) expressed as percentage
of security's face value with the accuracy of four decimal figures has 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.
The volume of the bid is equal to product of number of financial instruments
times price that includes accumulated interest divided by 100%. When
calculating accumulated interest, investor has to include days actually
passed at payment date.
Method of bids satisfaction for purchase is at stated price. The issuer will
satisfy all, or only part of, bids, prices in which will be higher than, or
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 be submitted only 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.
Food contracted corporation JSC offered its bonds on May 25, 2004 and
June 9 at KASE. The issuer floated 2,298 bonds for a total of 23,046,666.07
(0.77% of registered volume) with 8.0% APR. All other offerings were not
successful despite submitted bids. The issuer considered price parameters
unsatisfactory.
[2004-06-11]