The Kazakhstan Stock Exchange today, January 22, at 11:44 Astana time, suspended trading of the preferred shares of JSC "Kazakhtelecom." The reason is a decline in their value by 33.09%.
The price of the last executed transaction with the telecom operator's shares, conducted on January 21, 2025, was 41,100 tenge per share. Trading was halted on January 22, 2025, following a transaction at 27,500 tenge, according to a statement from KASE published later that same day.
"Trading has been suspended in accordance with subparagraph 1) of paragraph 2 of Article 25 of the KASE internal document 'Rules for Conducting Exchange Activities' (Rules), under which KASE suspends trading when the price of shares listed in the KASE 'Premium' category declines by 30 percent or more compared to the price established at the end of the trading day preceding such a decline. The suspension of trading is carried out automatically in the KASE trading system in the main trading modes," the exchange's information states.
As of now, "Kazakhtelecom" has not officially commented on this matter.
It is worth noting that on January 17, the telecom operator unexpectedly repurchased its three-year bonds worth 59 billion tenge from the Astana International Exchange Ltd, issued on December 30, 2024. They paid a fee of 500 million tenge for this.
Three days earlier, on January 14, it was reported that "Kazakhtelecom" completed a deal to sell a 100% stake in the authorized capital of LLP "Mobile Telecom-Service," operating in Kazakhstan under the brands Tele2/Altel, to the Qatari holding PIH Communication LLC.
As of today, the major shareholders of "Kazakhtelecom" are the National Wealth Fund "Samruk-Kazyna" with a 71.32% stake in the share capital and Jusan Bank with an 8.1% stake.