No transactions were concluded on the Kazakhstan Stock Exchange (KASE) last week.

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Shares in the copper corporation Kazakhmys have been added to the Listing B on the KASE. Until this point, Kazakhmys' shares were quoted on the non-listing board and the company, therefore, didn't need to disclose its financial information and be controlled by the stock exchange. The company's management reported in October that despite the crisis on world commodity markets, Kazakhmys would be maintaining a production level of 356,000 tonnes in 1998. In 1997, the company produced only 301,000 tonnes. The company encompasses five mines, two concentrating factories, a copper smelter, and other auxiliary facilities. As of 1 July 1998, its authorised capital totalled KZT 100.73m (USD 1.3m) including KZT 98.23m which had been paid-up. The shareholders' equity was KZT 37.29m (USD 0.5m). The overall number of outstanding shares is 4,991,533, of which 4,420,380 are common and 491,153 are preferred shares. (Reuters)

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On 2 December 1998, the KASE Council issued a resolution to upgrade the common and preferred shares in Kazakhtelecom to Listing A from Listing B. The council made its decision based on the fact that Kazakhtelecom has met all of the Listing A requirements except one—it has dividend arrears due for 1996-1997. However, given its strong commitment to repay the dividends (see below), the positive financial results the company has had for the past four years, and the company's importance for the entire national economy, the council made this promotion. (IRBIS)