OREANDA-NEWS  On 05 June was announced, that Kazakhstan Stock Exchange published revised text of listing rules.

As previously informed, by the decision of Kazakhstan Stock Exchange (KASE) Council of May 28, 2009 were approved change and additions # 25 (amendments) to KASE internal document "Listing Rules", effective from May 29, 2009.

Amendments were made to bring the Listing rules in line with norms of resolution No. 77 of the Board of the Agency of the Republic of Kazakhstan on Regulation and Supervision of Financial Market and Financial Organizations (AFS) "On Requirements to Issuers and Securities thereof, Admissible (Admitted) to Circulation on Stock Exchange, and to Individual Categories of Stock Exchange List" dated May 26, 2008 and set the following:

"In case a requirement, set by the normative act of the Authorized agency for listing on the Exchange, specifies a rating must be assigned by a rating agency to a security or an issuer, the Exchange shall recognize the ratings assigned by one of rating agencies as below:

1) Moody's Investors Service;

2) Standard & Poor's;

3) Fitch.

A rating, assigned by a subsidiary of the rating agencies indicated in passage two of this item, shall be considered to be assigned by the rating agency."

Additionally, the Listing rules were complemented with a norm saying a member of the Listing commission - a representative of the Authorized agency may place veto at voting regarding listing or transfer of securities from a lower to a higher category (subcategory) of the Exchange official list.

The amendments were submitted to AFS for approval.

Listing Rules revised text is published on KASE website at
http://www.kase.kz/files/normative_base/listing_rules.pdf