On November 8 Kazakhstan Mortgage Company JSC offered on KASE its 90% bonds of KZPC3M07B142 issue under 3.50% APR

/KASE, November 8, 05/ - On November 8, 2005 in Kazakhstan stock exchange's (KASE) trade system specialized trades on offering KZPC3M07B142 issue discount bonds of Kazakhstan Mortgage Company JSC (Almaty) (KASE's official "A" listing category, KZIKB13; KZT1, KZT5.0 bn.; October 15, 05 - May 15, 06) were held. These bonds issue is the third within the company's first bond program, registered by the Agency of the Republic of Kazakhstan for regulation and supervision of financial market and financial organization on April 8, 2004 for the amount KZT20.0 bn. under B14 number, and the thirteenth issue of the company's bond issue, passed listing procedure at KASE. The issuer offered market participants the whole volume of registered bonds (for the amount with nominal value KZT5.0 bn.). Subject of trades was price of bonds, expressed in percents from nominal value. Bids for participation in floatation were submitted by open method from 11:30 to 13:00 of Almaty time (ALT). Only limited and market bids were accepted on trades. Stake of market binds' satisfaction - 70%. Bids satisfaction method - at announced price. 14 KASE participants took part in trades, who submitted 25 limited and 13 market bids. To the moment of time expiry for submission of 33 bids (20 limited and 13 market) were left in KASE trade system for purchase of 8,678,900,000 bonds. Thus, summary demand in trades exceeded offer 1.7 times. In total volume of demand 39.2% (by number of bonds) was controlled by bids of Kazakhstan pension market subjects, 47.2% - by bids of Kazakhstan banks, 11.6% - by bids of broker-dealer companies' clients, 2.0% - by bids of broker-dealer companies. Price in submitted limited bids varied from 95.9683% (this corresponds yield of bonds to maturity in the amount 8.20% APR) to 98.2387% (3.50% APR). Average weighted (through bid volume) price in all limited bids was 97.6874%, average weighted yield to maturity - 4.62% APR. By the results of trades the issuer fixed cut-off price at the level 98.2384%, this corresponds yield of securities to maturity for buyer in the amount 3.5001% APR, and satisfied 13 market and 3 limited bids for purchase of 4,500,000,000 bonds for the amount of attraction KZT4,420,737,350.00. At that floatation prices varied from 98.2384% (3.5001% APR to maturity) to 98.2387% (3.4995% APR). Average weighted (through bid volume) floatation price equaled to 98.2386% (3.4997% APR). By the results of floatation 29.8% of bonds should be redeemed by the republic's pension market subjects owing to pension assets of accumulative pension funds, 48.7% - by Kazakhstan banks, 20.0% - by broker-dealer companies' clients, 1.5% - by broker-dealer companies. Bond buyers are obliged to provide transfer of money for payment of acquired securities to KASE's correspondent account before 13:00 ALT on November 9, 2005 (by T+1 scheme). [2005-11-08]