Кыргызская Фондовая Биржа

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Instructions for calculation of the fair market price of shares traded on the Kyrgyz Stock Exchange

  1. This instruction is an internal document of CJSC "Kyrgyz Stock Exchange" (hereinafter "Exchange") and contains a procedure for calculating the market price, the transaction of purchase and sale are concluded on the trading floor of the Exchange.
  2. The market price of shares determined in accordance with these Regulations is a public information and may be used to inform stakeholders and the public.
  3. The Exchange does not accept liability for any consequences of using the market price, calculated in accordance with these Regulations by other persons.
  4. Calculation of the market price realizes by the following dates:
    - Every day at the close of the relevant trading session of the Exchange;
    - In case of special need at the required date.
  5. The market price is calculated based on market data and Registration course NBKR on: transactions. In this case, to calculate the market prices are used only Registration course NBKR on: transactions in which share price fluctuates within 25% of the price of the last transaction on the relevant market shares.
  6. The market price is calculated as a weighted average price for the last five exchange transactions, satisfying the conditions of paragraph 5 hereof, in which:
    1. If in the last 90 days in the trading system of the Exchange were made less than five, but at least three of transactions with shares certain of the issuer, the market price of such shares is equal to the weighted average price, calculated on three such transactions.
    2. If in the last 90 days in the trading system of the Exchange were made at least three of transactions with shares certain of the issuer, the market price of such shares shall not be calculated, ie no.
  7. Market price determined in accordance with these Regulations is the official market price of shares traded on the Exchange on the date of calculation.