ANALYSIS: In August 2005 volume of CS purchase and sale deals on KASE increased by 48.3% to $336.1 m.

/IRBIS, Assel Omarova, September 7, 05/ - In August 2005 on the Kazakhstan stock exchange (KASE) 578 deals were made in corporate securities (CS) in all sectors of the market (excluding repo-transactions sector) for a total of KZT45,563.2 m. or $336.1 m. at the current rate effective on deals making dates. The stated sum is 4.9% of monthly exchange turnover (in July 2005 - 3.2%). In comparison with July 2005 volume of transactions has grown by $109,404.8 th. (KZT14,791.5 m.) or by 48.3% (by 48.1% in terms of tenge). Relative to August 2004 volume of transactions has increased by $102,082.8 th. (KZT13,676.1 m.) or by 43.6% (by 42.9% in terms of tenge). Structure of CS turnover on KASE in August looked as follows: stake of purchase and sale sector was 90.0% of all made deals volume ($302,524.9 th.); the stake of state blocks of shares (SBS) sector - 7.8% ($26,382.6 th.); stake of primary floatations - 2.2% (($7,235.4 th.). Structure of exchange's CS market in July 2005: stake of purchase and sale sector was 99.0% of all made deals volume ($224,551.5 th.); state blocks of shares (SBS) sector - 1.0% ($2,186.6 th.). STATE BLOCK OF SHARES MARKET In August in this sector of exchange market trades on sale of STB of KAZZINK JSC (Ust-Kamenogorsk) were held. Initiator of the trades was the Committee of state property and privatization of the Ministry of finance of the Republic of Kazakhstan (Committee), authorized broker to sell STB - Information-registration center JSC (Almaty). For organization of sale STB was divided in two parts, which were exhibited to the trades by indivisible lot under NZ_KZZN_4 code (825,747 common shares, 80.0% from STB and 4.0% from total number of placed shares of KAZZINK JSC) and NZ_KZZN_1 (206,436 common shares, 20.0% from STB and 1.0% from total number of placed shares of KAZZINK JSC). Sale of NZ_KZZN_4 was fulfilled at specialized trades. On August 5 KASE's 2 members participated in trades, who submitted 32 bids. To the moment when time for submission of bids expired, KASE trade system had 10 orders, prices of which varied from KZT300.00 to KZT3,500.00 per lot share. Such price parameters of demand did not satisfied the seller, in that connection trades were continued on August 8 at the same conditions. On August 8 one KASE member took part in trades, who submitted 3 bids. Prices on offered lot varied from KZT1,950.00 to KZT3,511.00. The deal was concluded by KZT3,511.00 per share for the amount KZT2,899,197,717.00. Taking into account average weighted tenge rate to USA dollar, formed at KASE morning session on the day when trades were organized (KZT135.83 per dollar), the above SBS of KAZZINK JSC was sold by USD21.3 m. by the rate $25.85 per share. Sale of NZ_KZZN_1 was fulfilled in the frame of trade session of CS by the method of open trades (continuous counter auction) on August 5. besides the seller, KASE's 3 members participated in trades, who submitted 54 bids. Prices of offered lot varied from KZT2,050.00 to KZT3,308.50. The deal was concluded by KZT3,308.50 per share for the amount KZT682,993,506.00. Taking into account average weighted tenge rate to USA dollar, formed at KASE morning session on the day when trades were organized, the above SBS of KAZZINK JSC was sold by USD5.0 m. by the rate $24.41 per share. SHARE MARKET This segment of CS exchange market characterized in August by growth of turnover relative to July by 6.5% or by $6.5 m to the equivalent of $106.4 m. Number of shares involved into deals grew from 30 in July to 29 in August, and number of deals increased from 207 to 213. In the analyzed period 46.9% of deals in shares in quantitative expression and 51.1% in volumetric expression were direct. Corresponding indicators of July - 48.8% and 73.6%. 5% of total number of shares, which were included in KASE's trade lists as of the end of August 2005 (i.e. 4 shares, which became HSBKp1, ORDB, CCBN and UTMK), formed 75.9% of exchange's turnover, including floatations. Similar indicator of July - 71.4%, in June - 72.4%. August's "top-5" by the volume of made transactions comprised: HSBKp1 (37.4% from share turnover), ORDB (22.7%), CCBN (10.9%), UTMK (4.9%) and ASFI (3.9%). Only one stake instrument - CCBN could keep its positions in the top relative July. Last month the first 5 positions belonged to AMGZ (30.7%), CCBN (23.4%), HRLT (10.5%), ORNK (6.8%) and KKGBp (6.6% from the whole share market). On number of conducted deals - index, the most correctly reflecting the degree of shares liquidity at KASE - in August leaders were VTBNp (22 deals). They were followed by CCBN (18), KKGBp (18), KZZN (16) and TEBNp (14). In July the first 5 positions of this rating were represented by CCBN (44), KZZN (28), KKGBp (26), TEBNp (15) and TEBN (12). From 29 shares, involved in deals of August, weighted average daily prices of twelve shares grew, fourteen fell, prices of three shares remained unchanged. Leader of growth (in 3.5 times) became RAHT, fall (by 33.3%) - CSBN and CSBNp. KASE_Shares index by August 10 (vide the third table) reached its historical maximum (376.38), mainly it was assisted by increase of demand price for common shares of KAZZINK JSC (before sale of STB participants of the market actively played for increase) and CNPC-Aktobemunaigas JSC. However to keep rate of KZZN at the level of STB sale was not possible by the end of the month. Drop of quotations of these shares and shares of some Kazakhstani banks resulted in decrease of KASE_Shares s at the end of the analyzed month. CORPORATE BOND MARKET Relative to July 2005 volume of deals has grown in 1.6 times (by $78,681.7 th.) to $203.4 m. Range of securities involved into deals expanded to 70 (in July - 44), and number of deals increased from 237 to 363. The stake of direct deals was 15.98% of transactions in quantitative expression and 16.02% in volumetric. Corresponding figures of July - 6.8% and 3.5%. 5% of bonds, which were included in KASE's trade lists as on the end of analyzed month (i.e. 6 securities, which became HSBKb9, ATFBb5, ASFIb5, BTASb2, BTASb1 and CCBNb8), formed 63.0% of the exchange's turnover of corporate bonds. Similar indicator of market's concentration in July was 57.1%, in June - 47.6%. In August 28 instruments had higher than USD1 m. turnover (in July - 23). HSBKb3 (31 deals) were leading by the number of made deals. They were followed by ATFBb5 (21), BTASb4 (20), TXBNb2 (20) и KZALb1 (20). Only HSBKb3, TXBNb2 and KZALb1have kept leading positions in comparison with July. Out of 70 bonds involved into deals of August 38 securities characterized by change of weighted average dirty prices, negative - 24. There was nothing to compare prices of eight new bonds with. Leader of growth (by 5.3%), became ASFIb6, fall (by 21.9%) - TEBNb4. Weighted average daily dirty prices of one bond grew by 5% and more, whereas five securities characterized by considerable decrease. On concluded deals yields of 32 bonds to maturity for a buyer grew in August, decreased - 30. The above price parameters of the market, which demonstrated equilibrium position, adequately reflected on dynamics of indexes of KASE_B* series (vide the third table). Below is statistical and supplemental information characterizing the CS market on KASE in August 2005 is published. Change of KASE's securities lists in August 2005 (by the end of month, change for the month) -------------------------------------------------------- Shares: Bonds: Issuers: Category of ------------- ------------- ------------- admission number trend number trend number trend ----------- ------ ----- ------ ----- ------ ----- A 48 0 122 +4 55 0 B 39 0 5 -1 34 -1 ----------- ------ ----- ------ ----- ------ ----- A+B 87 0 127 +3 87 -1 ----------- ------ ----- ------ ----- ------ ----- N 3 -1 0 0 3 -1 ----------- ------ ----- ------ ----- ------ ----- TOTAL 90 -1 127 +3 89 -1 -------------------------------------------------------- Notes: "A" - official "A" listing category; "B" - official "B" listing category; "A+B" - official list; "N" - "Non-listing securities" sector. Most tradable CS on KASE in August 2005 (purchase and sale only, excluding deals in SBS and primary offerings) ----------------------------------------------------------------------------- Volume of deals: Code Brief ------------------ Num- Market Price of name of th. m. ber of share, change, security Issuer USD KZT deals % % -------- --------------------------- --------- -------- ------ ------ ------- HSBKb9 Halyk savings bank of Kazakhstan JSC 46,990.6 6,368.9 14 15.2 Х HSBKp1 Halyk savings bank of Kazakhstan JSC 39,784.8 5,391.9 5 12.8 +2.50 ATFBb5 ATFBank JSC 25,736.2 3,487.9 21 8.3 -0.82 ORDB Corporation Ordabasy JSC 24,195.4 3,278.2 6 7.8 -9.76 ASFIb5 Astana-Finance JSC 23,722.4 3,219.8 10 7.7 +0.52 BTASb2 Bank TuranAlem JSC 11,912.9 1,615.9 6 3.8 +0.16 BTASb1 Bank TuranAlem JSC 11,726.2 1,590.6 6 3.8 -1.40 CCBN Bank CenterCredit JSC 11,575.4 1,568.3 18 3.7 +8.00 CCBNb8 Bank CenterCredit JSC 8,073.9 1,094.2 2 2.6 Х BTAIb8 BTA Ipoteka JSC 7,945.0 1,075.7 2 2.6 Х BTASb4 Bank TuranAlem JSC 7,928.4 1,075.4 20 2.6 +1.21 VTBNb4 Valut-Tranzit-Bank JSC 5,857.9 793.6 5 1.9 Х NRBNb2 Nurbank JSC 5,283.9 716.2 9 1.7 -0.22 UTMK Ust-Kamenogorsk titanium- magnesium combine JSC 5,212.6 706.1 3 1.7 -2.50 VTBNb3 Valut-Tranzit-Bank JSC 4,638.5 628.1 10 1.5 +1.03 KKGBb2 Kazkommertsbank JSC 4,582.8 621.3 8 1.5 -1.15 ASFI Astana-Finance JSC 4,110.8 556.9 10 1.3 +13.77 TEBN Temirbank JSC 3,791.7 513.0 13 1.2 -0.16 VTBNp Valut-Tranzit-Bank JSC 3,406.3 461.4 22 1.1 +17.73 CSBNb6 BANK CASPIAN JSC 3,197.7 432.8 3 1.0 +0.64 BTASb3 Bank TuranAlem JSC 2,868.1 389.5 1 0.9 +3.48 NRBNb3 Nurbank JSC 2,783.0 376.8 7 0.9 +0.56 KATRb1 KazAgroTrade+ LLP 2,440.4 330.4 11 0.8 -1.93 BTAS Bank TuranAlem JSC 2,336.3 316.5 11 0.8 -20.77 TEBNp Temirbank JSC 2,255.3 305.3 14 0.7 -8.26 ASFIb6 Astana-Finance JSC 2,241.6 303.8 4 0.7 +5.34 VTBN Valut-Tranzit-Bank JSC 2,180.5 295.2 10 0.7 -4.48 GLOTb1 GLOTUR JSC 2,150.0 291.2 5 0.7 +2.11 BTAIb6 BTA Ipoteka JSC 2,030.4 274.8 5 0.7 +0.05 NRBNb4 Nurbank JSC 1,856.3 251.5 1 0.6 +0.48 ROSA ROSA JSC 1,847.2 250.0 1 0.6 +1.70 KZAPb1 NAC Kazatomprom 1,738.5 235.7 2 0.6 +0.86 RAHT Rakhat JSC 1,645.8 222.9 12 0.5 +251.82 BTAIb4 BTA Ipoteka JSC 1,636.6 221.5 7 0.5 +1.72 VTZLb1 Kazyuvelirprom JSC 1,598.0 216.4 8 0.5 +3.52 HRLT CHARALTYN JSC 1,473.6 199.5 2 0.5 +24.29 KZASb2 KOSTANAY MINERALS JSC 1,448.2 196.2 3 0.5 +0.43 ASBNb4 Alliance Bank JSC 1,299.6 175.9 4 0.4 +0.78 ALKSb2 ALMATY KUS JSC 1,213.5 164.0 7 0.4 +2.45 HSBKb3 Halyk savings bank of Kazakhstan JSC 1,180.0 159.9 31 0.4 +0.79 KZIKb2 Kazakhstan Mortgage Company JSC 1,166.3 158.4 1 0.4 +0.61 KZIKb4 Kazakhstan Mortgage Company JSC 924.0 125.5 1 0.3 -10.95 BTAIb7 BTA Ipoteka JSC 889.1 120.2 1 0.3 +0.69 CCBNp Bank CenterCredit JSC 777.6 105.2 5 0.3 +0.24 HSBKb Halyk savings bank of Kazakhstan JSC 751.9 101.8 1 0.2 +3.15 UKPFb1 Ust-Kamenogorsk Poultry farm JSC 680.8 92.3 8 0.2 -5.60 KZZN KAZZINC JSC 679.4 92.0 16 0.2 +157.09 BRKZb1 Development Bank of Kazakhstan JSC 661.5 89.6 2 0.2 -2.72 HSBKb2 Halyk savings bank of Kazakhstan JSC 489.6 66.3 3 0.2 -0.10 ASFIb7 Astana-Finance JSC 484.0 65.5 4 0.2 Х KZTOe1 KazTransOil JSC 474.4 64.5 3 0.2 -2.27 KZTK Kazakhtelecom JSC 472.0 64.0 6 0.2 -15.55 ATFBb3 ATFBank JSC 386.5 52.4 1 0.1 +0.59 ATFBb2 ATFBank JSC 356.2 48.2 6 0.1 +1.44 VTTHb1 TECHNO-LIFE JSC 254.9 34.5 6 0.1 +0.81 BTAIb1 BTA Ipoteka JSC 233.5 31.7 2 0.1 -0.85 KZTCb1 KazTransCom JSC 221.2 30.0 1 0.1 -4.81 KKGBp Kazkommertsbank JSC 195.5 26.5 18 0.1 0 TSBNb1 Tsesnabank JSC 165.1 22.4 2 0.1 -1.68 ASFIb4 Astana-Finance JSC 155.5 21.1 2 0.1 +1.35 MREKb1 Mangistau distribution main company JSC 142.9 19.4 3 0.05 +0.90 KZTKp Kazakhtelecom JSC 122.2 16.6 13 0.04 +30.00 ORNK Ornek XXI JSC 98.1 13.3 2 0.03 -9.86 VTZL Kazyuvelirprom JSC 87.5 11.9 1 0.03 -12.00 TEBNb3 Temirbank JSC 85.3 11.5 1 0.03 +0.52 ASBNb2 Alliance Bank JSC 76.6 10.4 3 0.02 +0.93 KARMb2 Karazhanbasmunai JSC 68.1 9.2 1 0.02 -4.03 CCBNb1 Bank CenterCredit JSC 61.7 8.3 1 0.02 +3.46 AMGZ CNPC - Aktobemunaygas JSC 58.0 7.9 12 0.02 -15.42 CSBNb2 BANK CASPIAN JSC 55.3 7.5 2 0.02 -0.98 ATFBe2 ATFBank JSC 53.4 7.2 1 0.02 Х ATFBe1 ATFBank JSC 53.1 7.2 1 0.02 Х TXBNb2 TEXAKABANK JSC 46.3 6.3 20 0.01 +1.11 TEBNb2 Temirbank JSC 45.0 6.1 18 0.01 -6.52 KZNHb2 Kazneftechim JSC 41.4 5.6 3 0.01 -4.58 ATFBb4 ATFBank JSC 37.2 5.0 1 0.01 -1.38 CCBNb4 Bank CenterCredit JSC 29.7 4.0 1 0.01 -0.56 TEBNb4 Temirbank JSC 28.1 3.8 2 0.01 -21.94 KZALb1 Mining-smelting concern Kazakhaltyn JSC 28.0 3.8 20 0.01 +0.51 CSBNb3 BANK CASPIAN JSC 26.8 3.6 1 0.01 -5.89 RGBRb3 RG Brands JSC 26.4 3.6 2 0.01 -4.08 ATFBp8 ATFBank JSC 25.2 3.4 3 0.01 -12.51 KZPSb1 Kazpost JSC 25.1 3.4 17 0.01 +4.07 CCBNb2 Bank CenterCredit JSC 15.9 2.2 1 0.01 +0.66 ATFB ATFBank JSC 14.7 2.0 1 0.005 0 ROSAb1 ROSA JSC 14.0 1.9 1 0.005 +1.53 ASBNb3 Alliance Bank JSC 13.9 1.9 1 0.004 +3.20 CHFMb1 Chimfarm JSC 13.6 1.8 1 0.004 -2.66 ATFBp ATFBank JSC 12.2 1.7 2 0.004 -3.85 UKTCb1 AES Ust-Kamenogorsk HS JSC 10.7 1.4 1 0.003 +4.17 ZERD Zerde JSC 10.7 1.5 1 0.003 +17.25 NRBNp6 Nurbank JSC 7.8 1.1 1 0.003 +37.06 TSBNb2 Tsesnabank JSC 7.4 1.0 1 0.002 Х KZCRp TNC Kazchrome JSC 0.8 0.1 3 <0.001 0 KZIKb6 Kazakhstan Mortgage Company JSC 0.8 0.1 1 <0.001 +2.97 KKAGb1 Kazakhstan Kagazy JSC 0.8 0.1 1 <0.001 +0.48 KZIKb3 Kazakhstan Mortgage Company JSC 0.7 0.1 1 <0.001 -0.79 CSBN BANK CASPIAN JSC 0.2 0.02 1 <0.001 -33.33 CSBNp BANK CASPIAN JSC 0.1 0.01 1 <0.001 -33.33 -------- --------------------------- --------- -------- ------ ------ ------- TOTAL 99 309,760.3 41,981.1 576 100.0 ----------------------------------------------------------------------------- Comments: Securities were sorted in descending order based on the volumes of deals expressed in U.S. dollars. Small letters in the securities codes have the following meanings: "p" - preferred inscribed share; "b" - bond; "e" - eurobond; the rest - common inscribed share. The figure shows the ordinal number of the bond issue. If there is no figure (old code) it implies that it is the first issue. "X" - change of price is not calculated, as this security got the first estimation at KASE in analyzed period. Table of main indicators of the exchange's CS market in August 2005 ------------------------------------------------------------------------- Capitaliza- Capitaliza- tion tion Bond value Volume of of the of the index, purchase share bond Bonds including and sale market, Share market, yield accum deals, Date m. USD index m. USD index interest th. USD -------- ----------- ------ ----------- ------ ---------- --------- 29.07.05 5,768.1 366.29 6,863.6 7.42 178.75 14,772.1 01.08.05 5,823.0 350.68 6,862.3 7.44 178.73 502.6 02.08.05 5,836.1 338.54 6,860.5 7.44 178.72 5,547.8 03.08.05 5,759.6 347.07 6,860.6 7.46 178.68 30,055.7 04.08.05 5,798.9 335.57 6,859.3 7.43 178.88 43,705.8 05.08.05 5,845.7 361.40 6,850.5 7.45 178.79 24,264.0 08.08.05 5,840.5 360.05 6,862.3 7.48 178.71 24,428.8 09.08.05 6,369.9 360.37 7,007.5 7.43 179.06 9,257.9 10.08.05 6,418.1 376.38 7,012.1 7.44 179.06 77,277.9 11.08.05 6,420.7 349.62 7,011.3 7.45 179.00 11,278.8 12.08.05 6,425.9 369.93 7,013.9 7.43 179.33 4,600.5 15.08.05 6,443.3 372.97 7,017.6 7.46 179.33 2,082.4 16.08.05 6,428.0 373.06 7,050.7 7.50 179.10 3,391.2 17.08.05 6,430.7 367.48 7,058.5 7.46 179.38 16,720.6 18.08.05 6,622.2 367.51 7,053.4 7.50 179.25 12,812.2 19.08.05 6,682.7 367.99 7,056.7 7.45 179.62 2,275.1 22.08.05 6,700.6 373.02 7,106.1 7.45 179.67 10,829.7 23.08.05 6,698.1 364.63 7,106.9 7.46 179.67 11,662.3 24.08.05 6,821.1 370.34 7,107.9 7.48 179.56 3,592.3 25.08.05 6,866.6 361.23 7,110.3 7.45 179.78 6,014.2 26.08.05 6,857.3 363.52 7,107.7 7.47 179.71 14,188.2 27.08.05 6,880.2 359.95 7,122.5 7.52 179.41 12,138.5 31.08.05 6,865.6 360.19 7,120.4 7.46 179.89 9,516.6 -------- ----------- ------ ----------- ------ ---------- --------- Trend +1,097.5 -6.10 +256.8 +0.03 +1.14 , +19.0% -1.7% +3.7% +0.44% +0.6% , ------------------------------------------------------------------------- Comments: The shares index (KASE_Shares) reflects the changes in the bids on the shares from the official Exchange's securities list of "A" category, including the market capitalization of their issuers. Capitalization of the bonds market - indicator that reflects the volume of corporate debt circulating on the KASE as the bonds of the companies. It is calculated on the basis of the number of issued bonds and the bonds admitted to the trades and their market values. In case of the absence of the last figure, face value is used instead. Capitalization of the shares market - indicator that reflects the market capitalization of the companies whose shares were entered into official list of the KASE securities. It is calculated on the basis of the number of issued shares and their last market values. In case of the absence of the deals the face values of the securities, expressed in U.S. dollars (if necessary) at the rate of the Exchange for the current day, are used. Bonds yield index (KASE_BY) - weighted average (through capitalization) yield of the corporate bonds of category "A" of the KASE official list, which is calculated based on the deals or average bids of the market-makers (if there is no deal). Index of bonds yield with accumulated interest (KASE_BP) - weighted average (through capitalization) "dirty" price of the corporate bonds of category "A" of the KASE official list, which is calculated based on the deals or average bids of the market-makers (if there is no deal). Purchase-sale deals volume includes the deals made in state blocks of shares and volume of primary floatations on KASE's specialized trades but it doesn't take into account repo transactions. [2005-09-07]