KASE Opens Trades on Shares of Kazakhstan Innovation Commercial Bank
OREANDA-NEWS. Kazakhstan Stock Exchange (KASE) informs that from February 8, 2011 trades on sale of the state block of shares (SBS) of Kazakhstan Innovation Commercial Bank (Karagandy) open in KASE trading system, reported the press-centre of KASE.
The SBS will be put up at the trades in an indivisible lot of 7,000 common shares KZ1C35450010 of Kazakhstan Innovation Commercial Bank under trading code NZ_INBN.
Trades to sell the SBS will be executed by using the continuous counter auction method from February 8 to December 31, 2011, daily from 11:30 to 17:00 (Almaty time).
The guarantee fee is set at KZT7.0 m.
Trades initiator - the Committee on State Property and Privatization of the Ministry of Finance of the Republic of Kazakhstan.
Authorized SBS sales broker - the company CAIFC (Almaty).
The SBS must be quoted by buyers in tenge per one SBS share with an accuracy of two decimals.
The trades order is regulated by the KASE internal document "Regulations on Trading Methods", available on KASE website at http://www.kase.kz/files/normative_base/methods_eng.pdf
Settlements by trades results will be made in compliance with article 7 of the KASE internal document "State Blocks of Shares. Order of Admittance to Sale on Trades and Settlements based on Trades Results", available on KASE website at http://www.kase.kz/files/normative_base/gpa_eng.pdf
According to this document a deal amount, excluding the KASE commission and previously transferred guarantee fee (which is credited by a prospective buyer to KASE correspondent account before trades), must be transferred by an SBS buyer to the corresponding account at the Central Securities Depository (Almaty) within seven working days from the day after its conclusion.
Applications to participate in trades can be submitted only by KASE stock market category members. Investors may apply through these legal entities. The full list of such members is available on KASE website at http://www.kase.kz/en/membership
The trades initiator does not set for investors any limits, which means that shares at trades can be bought by any legal entity or individual - a resident or non-resident of the Republic of Kazakhstan.
Common shares KZ1C35450010 (INBN) of Kazakhstan Innovation Commercial Bank are admitted to circulation on KASE as Unlisted securities from November 3, 2010.