16.7% shares of Halyk Savings Bank of Kazakhstan was sold at the closed tender
/kASE, Dec 22, 99/
JSC �Halyk Bank of Kazakhstan (Almaty, official list of securities, category �A�) according to the listing requests has granted to the Kazakhstan stock exchange (KASE) the official press release of the State Property and Privatization Committee of the Ministry of Finance of Kazakhstan about results of the tender on the privatization of share of the state block of the bank�s shares.
In the press release is spoken that on December 01, 1999 according to the decree of the Government of Kazakhstan of November 10, 1999 �About privatization of a part of the state block of shares of the joint-stock Halyk Savings Bank of Kazakhstan company� the tender was held. 17 legal persons and legal persons consortiums were invited for participation in the tender. There were the both the banks, and commercial companies.
Consortium ASIA-INVEST, which includes JSC �Komirbank�, �Almaty Commercial Bank� and company �ASIA-INVEST� has become the winner of the tender.
6,031,066 shares from the state block that makes 16.7 % of the bank�s authorized capital of after the 4-th additional issue placement were sold for 1,387,283,180 tenge (230 tenge for 1 share) at the nominal of 100 tenge. In result the authorized capital state share has decreased from 80% to 50% plus one share.
The tender was conducted under conditions recommended by the Arthur Andersen - the company adviser. The adviser was determined also by the results of the tender conducted pursuant to the decree #1382 of Government of September 13, 1999 � Some questions concerning to the JSC Halyk Savings Bank of Kazakhstan.
After signing the sale contract between the Consortium and the Government of Kazakhstan all receipts from the sale will be directed to the state budget.
Placement of the 4-th issue of Halyk Savings Bank of
Kazakhstan shares
/KASE, Dec 22, 99/
JSC �Halyk Bank of Kazakhstan (Almaty, official list of securities, category �A�) according to the listing requests has granted to the Kazakhstan stock exchange (KASE) the official press release about results of the shares placement of the 4-th additional issue.
In the press release is spoken that on December 01, 1999 placement of the 4-th additional issue of 6,031,666 bank� shares to the nominal sum of 603, 166 600. The solution concerning the issue and placement has been accepted at the extraordinary General Meeting of the Halyk Bank shareholders of October 29, 1999.
The price of placement has been recommended by the Arthur Andersen - 4-th additional issue placement adviser and has made 141 tenge for the share.
Pursuant to the Law of Republic of Kazakhstan �About joint-stock companies�, each bank�s shareholder has received the right of primary shares purchasing. According to the calculated norm, the shareholders, which had 5 shares of the previous issues, had the right to acquire one new issue share. 1,038 shareholders have realized this right and have acquired 720,342 shares of the 4-th issue.
The rest of shares has been placed among bank shareholders, which wished to increase their share, and 5,311,324 copies of the shares have been purchased by Delta Ltd.
850,464,906 tenge received from the placement are directed to the bank capitalization. Paid-up authorized capital of Halyk Bank of Kazakhstan after 4 issues has amounted to 3.6 billion tenge.
On December 10, 1999 the closed tender concerning the sale of a part of the state block of shares was held. In the result 16.7% of the authorized capital was sold to the private investors.
Before the new issue placement and the tender 80% of the Halyk Bank shares belonged to the state, 10% - to the bank�s investors, 10% - to the Delta Ltd.
After the placement and tender the state share makes 50% of the authorized is investors - 50% a minus one share.
The Halyk Bank privatization has began in 1998, it is a part of the governmental program on the bank sector re-structuring.
OJSC �Bank TuranAlem� (Kazakhstan) has registered 5th issue of its shares
/IRBIS, Dec 23, 99/
OJSC �Bank TuranAlem� (Almaty, KASE official list of securities, category �A�) provided Kazakhstan stock exchange (KASE) with the certificate of state registration of its 5th issue shares.
The issue was registered with the National securities commission of Kazakhstan on December 23, 1999. Within the 5th issue 400,000 common inscribed shares were issued at 10,000 tenge par value for a total of KZT4,000,000,000. The national identification number � KZ1C34920412.
The issue was entered into the State register of the securities under the number �3492-4.
Common inscribed shares of the bank are entered into the Exchange�s official list of securities in category �A� on September 8, 1999. Trades are held from September 21 of this year. Authorized capital of OJSC �Bank TuranAlem� after five issues reached KZT12,870,230,000.
Aidar AKHMETOV
ALMATY, Dec 22 (THE GLOBE)
On December 21 the International Bank of Reconstruction and Development (World Bank Group) approved the loan of US$ 140 million to be allotted to Kazakhstan to finance a project on restoration of the power transmission system. Under this project both the government and Kazenergo company, operator of the power system of Kazakhstan will be assisted to improve quality of power provision, to develop a competitive power market and to reorganize Kazenergo in order to establish an effective net company.
Kadir Tanju Yurukoglu, World Bank Resident Representative in Kazakhstan announced on December 22 that in 1999 the WB Board of Directors had approved five investment projects in Kazakhstan. Thus, the total amount of the investment loans in 1999 was US$ 315.5 million. Yurukoglu mentioned projects for which loans had been allotted: the project on improvement of the road system, healthcare reforms, the law reform, the pilot project on water provision in Atyrau, and rehabilitation of the power transmission networks.
�Today in Kazakhstan structure reforms and realization of investment projects are satisfactory and completely justifies the current program,� Yurukoglu said. He is confident that Kazakhstan will be able to repay its debts to the World Bank. The reimbursement term is 20 years with a 5-years privileged period, during which a small part of the credit value is to be repaid. In Yurukoglu�s opinion, the Kazakhstan�s economy is highly managed; otherwise the World Bank would not allot any credits to the country.
In conclusion Yurukoglu said that from the moment when Kazakhstan had joined the World Bank Group in 1992, the credit amount had come to approximately US$ 1.66 billion.
Kazakhstan�s liabilities and utilization of money from loans by the World Bank:
Lufthansa News
Frankfurt, Dec 16
As �Official Airline� of the EXPO 2000, Lufthansa has put together an EXPO 2000 timetable with new non-stop connections from numerous European cities as well as additional flights to Hanover for the duration of the world exposition between June 1 and October 31 2000. It is also linking the capital of Lower Saxony with extra flights into both its Frankfurt and Munich hubs. With these additional capacities, Lufthansa aircraft will be landing or taking off 90 times a day at the EXPO 2000 city. More than 40 million visitors from over 170 countries are expected at the exhibition. The bulk � about 60 per cent � will be from Germany, about 30 percent will come from elsewhere in Europe and ten per cent from overseas.
Lufthansa will make available a wide choice of new European connections to Hanover during EXPO 2000: daily non-stop flights to Hanover will be laid on from Stockholm, Oslo, London Stansted, Manchester, Geneva and Rome. The existing connections from Paris, Barcelona, Milan/Malpensa, Vienna and Zurich are to be expanded.
Four additional daily flights from Frankfurt, and two from Munich, will extend feeder services to Hanover from the two Lufthansa hubs.
With its extensive EXPO 2000 timetable, Lufthansa is turning Hanover into a millenium hub: From Hanover, Lufthansa will be offering EXPO visitors from around the world direct connections to other millenium celebrations in London or Paris, the traditional Passion Play in Oberammergau in Bavaria or to the Holy Year in Rome.
In common with many major trade fairs in Germany, Lufthansa will provide a travel and service centre at the EXPO, offering such services as ticketing, reservations and hand-luggage check-in.
International Corporate Communications Lufthansa German Airlines
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