OREANDA-NEWS. On December 25, 2008 Kazkommertsbank (Almaty), the listed company of Kazakhstan Stock Exchange (KASE), provided to KASE the press release of December 24, 2008 where informs on the following, reported the press-centre of KASE:

Kazkommertsbank has increased its stake in Kazkommertsbank Kyrgyzstan by purchasing the newly issued shares from the sixth share emission, which were offered in a free float after the pre-emptive rights procedure was executed.

In line with its strategy of consolidating its subsidiaries Kazkommertsbank has acquired 2,568 common shares of Kazkommertsbank Kyrgyzstan from the sixth emission at the share placement price of KGS 1,352 per share. On December  24, 2008, Kazkommertsbank made a payment of KGS 3,471,936 to purchase these common shares.

As a result, Kazkommertsbank's stake in JSC Kazkommertsbank Kyrgyzstan has increased from 93.58% to 94.64%.

Exchange rates: 0.3263 KGS / 1 KZT, 39,4000 KGS / 1 USD.