KASE changes duration of period for generation of selection of orders for market valuation of corporate bonds of 32 titles

22.04.14 13:14
/KASE, April 22, 14/ – Kazakhstan Stock Exchange (KASE) notifies you that following a decision of the Committee on Indices and Securities Valuation of April 21, 2014 the market price of the following bonds for the period from April 21 to 27, 2014 was calculated taking into account the extension of the selection period for purchase orders, whose parameters are used for the valuation, to 20 days preceding the market valuation date. On bonds of Imstalcon (Almaty): - KZP01Y07D549 (KZ2C00000412, KASE official list, first sub-category of Non-Rated Debt Securities category, IMSKb1); - KZP02Y07D547 (KZ2C00000446, KASE official list, first sub-category of Non-Rated Debt Securities category, IMSKb2); - KZP01Y07D747 (KZ2C00000420, KASE official list, Rated Debt Securities category, IMSKb3); on international bonds of Alliance Bank (Almaty): - XS0496645085, XS0496645242 (KASE official list, Rated Debt Securities category, АSBNe9); - XS0496645671, XS0496645838 (KASE official list, Rated Debt Securities category, АSBNe12); - XS0496645911, XS0496646059 (KASE official list, Rated Debt Securities category, АSBNe13); on bonds of Delta Bank (Almaty): - on bonds KZP01Y05E178 (KZ2C00001709, KASE official list, Rated Debt Securities category, NFBNb2); - on bonds KZP02Y10E176 (KZ2C00002038, KASE official list, Rated Debt Securities category, NFBNb3); on bonds of Temirbank (Almaty): - KZ2C0Y20A641 (KZ2C00001485, KASE official list, Rated Debt Securities category, TEBNb3); - KZP01Y20B553 (KZ2C00000024, KASE official list, Rated Debt Securities category, TEBNb4); - KZP01Y17B559 (KZ2C00000032, KASE official list, Rated Debt Securities category, TEBNb6); - KZP04Y19B559 (KZ2C00000040, KASE official list, Rated Debt Securities category, TEBNb7); - KZP05Y16B552 (KZ2C00000057, KASE official list, Rated Debt Securities category, TEBNb8); - KZP07Y20B550 (KZ2C00000065, KASE official list, Rated Debt Securities category, TEBNb10); - KZP08Y25B557 (KZ2C00000073, KASE official list, Rated Debt Securities category, TEBNb11); - KZP01Y13C333 (KZ2C00000099, KASE official list, Rated Debt Securities category, TEBNb12); - KZP02Y15C336 (KZ2C00000081, KASE official list, Rated Debt Securities category, TEBNb13); - KZP03Y19C336 (KZ2C00000107, KASE official list, Rated Debt Securities category, TEBNb14); - KZP04Y19C334 (KZ2C00000115, KASE official list, Rated Debt Securities category, TEBNb15); - KZP05Y20C339 (KZ000A1AT8V6, KASE official list, Rated Debt Securities category TEBNb16); - KZP06Y20C337 (KZ2C00000123, KASE official list, Rated Debt Securities category, TEBNb17); - KZP07Y10C336 (KZ2C00000461, KASE official list, Rated Debt Securities category, TEBNb18); - USY8584LAA18, US87971SAA87 (KASE official list, Rated Debt Securities category, TEBNe1); on bonds: - KZP01Y05D782 (KZ2C00000339, KASE official list, Rated Debt Securities category, KIBNb5) of Kazinvestbank (Almaty); - KZP01Y07D994 (KZ2С00001592, KASE official list, Rated Debt Securities category, AKFIb3) of AMF Group (Astana); - KZPO1Y05T319 (KZ2C00001840, KASE official list, Rated Debt Securities category, CACMb2) of Central Asia Cement (Temirtau); - KZP01Y05E368 (KZ2C00001907, KASE official list, Rated Debt Securities category, AZHKb1) of Alatau Zharyk Company (Almaty); - KZP01Y03E421 (KZ2C00001923, KASE official list, Rated Debt Securities category, ALESb1) of Almatinskie Elektricheskie Seti (Almaty); - KZP01Y05E590 (KZ2C00002483, KASE official list, Rated Debt Securities category, KTGAb1) of KazTransGas Aimak (Astana). The market price of the following bonds was calculated taking into account a decrease in the period of purchase order selection, whose parameters have been used for their valuation up to six days preceding the market valuation date, namely orders from April 11, 2014 were used (date of assignment to Eurasian Capital (Almaty) of status of market-maker on KASE for the mentioned securities): on bonds of AsiaCredit Bank (Almaty): - KZP01Y07D887 (KZ2C00001766, KASE official list, Rated Debt Securities category, LARIb2); - KZP02Y07D885 (KZ2C00002418; KASE official list, Rated Debt Securities category, LARIb3); - KZP03Y08D881 (KZ2C00002459, KASE official list, Rated Debt Securities category, LARIb4); This decision was taken based on sub-item 2) of item 40 of the Methodology of Securities Valuation (hereinafter – the Methodology) based on the overly high magnitude of fluctuations of prices of the said bonds during their reassessment on the fair value carried out in accordance with: - Rules of valuation of financial, instruments contained in portfolios of accumulative pension funds approved by resolution No. 109 of the Agency of the Republic of Kazakhstan on Regulation and Supervision of Financial Market and Financial Organizations of March 26, 2005; - Rules of accounting and evaluation of pension asserts approved by resolution No. 186 of the Management Board of the National Bank of the Republic of Kazakhstan of July 26, 2013. Earlier KASE notified that by decision of KASE Management Board as of April 7, 2014 ASYL-INVEST (Almaty) was compulsorily stripped of the status of a market-maker on KASE for securities of 35 titles due to removal of this joint-stock company from participation in trades after suspension of its license by the National Bank. This circumstance has led to absence in the KASE trading system for two weeks of quotations necessary for the market valuation of the said bonds. Valuation of the said bonds on fair value (on discount rates) in accordance with the above-mentioned rules would lead to a change in the market price of particular securities by 50–99 % at full absence of transactions on the market, i.e. any significant grounds for such serious reassessment on the market are absent. Thus, for calculation of market price on the mentioned bonds KASE used orders submitted by the bond market-maker from March 19, 2014, except for bonds of "AsiaCredit Bank" JSC, on which orders submitted by the new market-maker from April 11, 2014 were used. The text of the Methodology is available on KASE website at http://www.kase.kz/files/normative_base/met_ocen_zb.pdf All persons interested with regard to the Methodology and procedure of calculating market prices can turn to KASE Information and Analysis department at tel. (727) 237 53 18, e-mail: info@kase.kz. KASE news item of April 7, 2014 "ASYL-INVEST is debarred from securities trading on KASE" is available on KASE website at http://www.kase.kz/en/news/show/1216391 KASE news item of April 10, 2014 "Eurasian Capital as of April 11 assigned status of market-maker on KASE for bonds of AsiaCredit Bank of three issues" is available on KASE website at http://www.kase.kz/en/news/show/1216678 [2014-04-22]