ASTANA, Kazakhstan, January 23. The Kazakhstan Stock Exchange (KASE) has put the brakes on trading preferred shares of JSC "Kazakhtelecom" following a steep 33.09 percent plunge in their price, Trend reports via KASE (Kazakhstan Stock Exchange).
"In January 22, at 11:44 Astana time, the Kazakhstan Stock
Exchange (KASE) suspended trading of the preferred shares
KZ0009094645 (main platform KASE, 'premium' category, KZTKp) of JSC
'Kazakhtelecom' due to a 33.09 percent drop in their price. The
suspension of trading was made in accordance with paragraph 1 of
clause 2 of article 25 of the KASE internal document 'Rules for
Exchange Operations' (Rules), under which KASE suspends trading of
shares listed in the official KASE 'Premium' category when their
price decreases by 30 percent or more compared to the price formed
at the close of the previous trading day. The suspension of trading
is automatically implemented in the KASE trading system under the
main trading modes. The decision to resume trading of the mentioned
shares will be made based on paragraph 7 of Article 25 of the
Rules,” KASE stated.
To note, the price of the last executed transaction for KZTKp
completed on January 21, 2025, was 41,100.00 tenge per share
($78.09 per share). Trading of KZTKp was suspended on January 22,
2025, after a transaction was completed at a price of 27,500.00
tenge per share ($52.25 per share).
Kazakhtelecom JSC (Kazaktelecom) is the largest telecommunications
company in Kazakhstan, providing services of fixed telephony,
broadband Internet access, digital television, cellular
communication, information technologies, local and international
telephony, etc. The company's subsidiaries are the largest
telecommunications company in Kazakhstan.