OREANDA-NEWS. June 15, 2010. The Board of directors of Kazakhstan Stock Exchange (KASE) approved supplements and amendments No. 1 (the Amendments) to KASE internal document "Listing rules", reported the press-centre of KASE.

The Amendments are pending accord with the Agency of the Republic of Kazakhstan on regulation and supervision of financial market and financial organizations (FSA) and the Agency of the Republic of Kazakhstan on regulation of activities of the Regional Financial Center of Almaty (ARA RFCA) and will be made effective after the accord with the agencies.

The Amendments were made to bring the Listing rules in line with the Appendix to Order of Chairman of ARA RFCA "On requirements to issuers, admissible to or listing on the special trading floor of the Regional Financial Center of Almaty and to such securities" dated May 8, 2008 No. 04.2-09/119 (the Order) and KASE internal document on the Listing commission".

The Amendments provide for the following.

1. Listing fee payment benefits were introduced for companies listing on the Exchange for IPO purposes.

2. To improve information disclosure in line with international practice, additional information disclosure requirements were introduced for admission initiators, in particular issuers, listing in the first category of 'shares', must disclose the required information and simultaneously provide   its English version, verified with a notary, issuer or admission initiator.

Admission initiators listed in the fist category as on the effective date of the requirement to disclose information in English must submit the respective English translation before/on January 1, 2011.

3. Requirements were augmented in regard of supply of financial statements due to modifications of international financial reporting standards, and requirements of FSA resolution No. 109 "On approval of Rules of valuation of financial instruments, listing in investment portfolios of pension funds" dated March 26, 2005, according to which share book value is computed on the basis of financial statements.

4. Procedures, not settled earlier, were clarified, in particular on conditions of acceptance of applications from admission initiators at transfer of securities from 'buffer category' to another category (subcategory), regarding the procedure of listing fee payment and effective dates of Listing commission decisions.

5. To provide equal conditions for all issuers it was determined, that trading in securities listing on KASE before the introduction of these Listing rules, must be open within three months of the effective date of this item. In case on the expiry of three months trade in the securities is not opened, the Listing commission at its nearest meeting will consider a delisting of the securities.

  This item is not applicable to securities issued by National welfare fund Samruk-Kazyna.

6. Appendix 5 sets requirements imposed on valuers the Exchange is recognizing.

7. Editorial amendments were made.

The renewed text of the Listing rules will be released at the KASE website at http://www.kase.kz/files/normative_base/listing_rules_eng.pdf after the accord.