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KASE suspends trading in ordinary shares of BTA Bank as their price drop by nearly 40%
Almaty, January 30 2009
The Kazakhstan Stock Exchange has suspended trading in ordinary shares of BTA Bank, KASE says in a statement.
The trades were suspended in accordance with article 12-2.1 of KASE's Regulations for Trading in Securities.
According to the Regulations (the revision that has been in force since January 25, 2009) KASE will suspend trading in the shares that are on KASE's first category list if their price falls by 30% and more compared to the share price paid at the last trading session. The suspended trading will be resumed on the next trading day unless otherwise decided by the Financial Supervision Agency.
The last purchase price for the mentioned shares was 14,000.01 tenge (current FOREX rate is 121.56/$1) per share on January 29, 2009. The trading was suspended after an ordinary share of BTA Bank's was sold at 8,401.00 tenge (or 60.01% of the aforementioned price).
In the first half of 2008 BTA Bank was ranked 7th by assets among the CIS banks and 1st among the Kazakh banks according to the Interfax-1000 ranking prepare by the Interfax Center of Economic Analysis.