/KASE, December 27, 06/ - Dosjan temir zholy JSC (DTZ) (Almaty, the
Issuer) has informed Kazakhstan stock exchange (KASE) that since March
3 till March 6 of 2006 there will be organized offering of the second tranche
of the Issuer's infrastructure bonds, registered under KZ2CKY23B672
national identification number (KZT1,000, August 2, 05 - August 2, 28,
annual coupon indexed on inflation rate, 8.25% for the current period,
30/360).
Bonds will be offered by subscription. Investors can submit bids for
purchase to the Issuer only through its underwriter - First Investment
JSC (62, Karasay batyr str., Almaty, tel: 58 70 68). KASE is not related to
bids acceptance and the planned offering, because the mentioned bonds
have not been included in the exchange's official securities list, and the
Issuer is not a listed company of KASE.
The issuer plans to offer bonds for total face value of KZT3.2 bn.
(3,200,000 bonds) by subscription.
The Issuer's underwriter will accept bids from 9:00 of Almaty time (ALT) on
March 3 till 18:00 (ALT) on March 6, 2006. Date of accepted bids
satisfaction is March 7, 2006. Securities buyer must transfer money for
purchased securities to the Issuer's account before 18:00 ALT on March 10,
2006. At that, accumulated interest is to be accounted for the whole period of
bonds circulation since their circulation start date, excluding settlement date
by the results of subscription.
Stake of satisfaction of bids with competitive offers is 70%.
Bonds yield to maturity for a buyer, expressed as percentage per annum
with the accuracy of two decimal figures, is to be shown in bid as the price.
Precisely this indicator will is the subject of the trade.
Number of financial instruments in a bid should be equal to total face value
of securities in Kazakhstan tenge, divisible by one bond's face value.
Bids satisfying method is at stated yield (from which the underwriter will
calculate the price). The issuer will satisfy all bids, yields in which will be
lower than cut-off yield, and also all or a part of bids, yields in which will
be equal to this value. Volume of bid is determined by the Issuer based on the
number of financial instruments in bid and bid price. Cut-off step is one
hundredth of bonds yield to maturity in submitted bid.
Cutting-off procedure will be made in the following order.
1. After bids acceptance period expires, but no later than 12:00 ALT on the
first business day, following expiration of bids submission period set by
the announcement, the Issuer forms the spreadsheet of accepted bids,
sorted by acceptance time. At that volume of information, included in the
mentioned spreadsheet, is determined based on terms of announcement
so that, let the Issuer take the grounded decision on satisfying accepted
bids or on bonds offering refusal. Information about investors, who
submitted bids, is not included in the spreadsheet.
2. Till 15:00 ALT on the first business day, following expiration of bids
submission period asset by the announcement, the Issuer notifies about
his decision to satisfy accepted bids or refuse bonds offering. At that, the
Issuer's decision about satisfying accepted bids means his consent to
make deals in offered bonds at the price and in the sizes, corresponding
to terms of the announcement and the mentioned decision. If the Issuer
decides to satisfy accepted bids volume of information, included in the
mentioned message, must allocate bonds between investors, who
submitted the bids, which are to be satisfied in accordance with the
terms of announcement and this decision. If the Issuer decides to refuse
bonds offering, the mentioned message must contain description of
motive of the refusal.
3. Till 18:00 ALT on the first business day, following expiration of bids
submission period set by the announcement, the Issuer:
- gives investors notification about what decision he has taken -
satisfy accepted bids or refuse bonds offering;
- if the Issuer decides to satisfy accepted bids - gives investors
notification on bids, subjected to satisfaction, with showing amounts
to be transferred by investors as payment for bonds, and sends
bonds purchase-sale agreement for signing.
The issue of bonds to be offered additionally was registered by Agency of the
Republic of Kazakhstan on regulation and supervision of financial market
and financial organizations on July 25, 2005. One can see specification of
the issue and get other information, concerned with the bonds, from the
Issuer's underwriter. Results of analysis of the Issuer's financial condition,
made by ATFBank JSC (Almaty) in compliance with the Agreement about
representation of bondholders' interests, are available at
http://www.kase.kz/mix/analys_dtj.pdf
[2006-02-27]