ON JULY 18 KASE SUSPENDED TRADES IN KAZKOMMERTSBANK (KAZAKHSTAN) COMMON SHARES KZ1C00400016 (KKGB) DUE TO THEIR PRICE REDUCTION BY 77.05 %
18.07.14 12:26
/KASE, July 18, 14/ – Today at 11.40 a.m. Almaty time, Kazakhstan Stock
Exchange (KASE) suspended trades in common shares KZ1C00400016 (KASE official
list first category, KKGB) of Kazkommertsbank (Almaty) due to their price
reduction by 77.05 %.
The trades have been suspended after conclusion of the deal in mentioned
shares at KZT332.80 per share. At this the price of the last executed deal
with Kazkommertsbank on the previous day – July 17, 2014 – made up KZT1,450.00
per share. An instant testing of known to KASE at present circumstances allows
making a conclusion that the reason of such prices surge is not the technical
error of any KASE member or the technical error in exchange trading operation.
The trades have been suspended in compliance with item 1 of article 12-2 of
KASE internal document "Rules of Securities Exchange Trading". According to
these rules KASE suspends trades in shares of any denomination, included to
KASE official list first category, in case of price reduction of shares of
this denomination by 30 and more percent against the price of the last
executed deal in shares of this denomination, which was made during the
last preceding effective trading session. Unless otherwise specified by
an authorized body decision, suspended trades shall be recommenced with
the beginning of the new trading day on shares.
As previously announced, KASE Committee on Indices and Securities Valuation
excluded parameters of the deal at KZT1,450.00 from calculation of KASE Index
values for July 17, 2014 due to significant deviation of the deal price from
the market level and non-representative volume.
[2014-07-18]