Market Notice AIX Book-building FRHC Instructions –pdf
AIX hereby informs Market Participants of the timeline for the Book-building, allocation and cash – settlement of the Freedom Holding Corp.’s Bonds:
| Process | Action Taker | Description | Duration |
| Sending orders into the AIX Trading system (book-building period) | Market Participants | Market Participants and Custodians are requested to send bids with “GTC” duration. | From 9:00 am till 5:00 pm on 27 December 2019 |
| Providing Investors’ information | Market Participants | The bid orders of Market Participants must contain the investors’ information | From 9:00 am to 5:00 pm on 27 December 2019 |
| Transfer Investors’ funds to the AIX CSD bank Account | Market Participants | Market Participants must deposit / transfer to the Book-Build Settlement Account a sufficient amount to cover the total sum of the submitted bids | Funds must be ion AIX CSD bank account no later than 10:00 am on 30 December 2019. |
| Excess cash transfer | AIX CSD | If applicable and requested, the AIX CSD transfers any excess cash back to the AIX CSD Participants’ bank accounts | By Market Participants and Custodians’ requests |
| Book-building allocation and pricing announcement | AIX/ Lead Manager | AIX, based on information provided by the lead manager, announces the cutoff price and allocation to participants | 30 December 2019 |
| Debt distribution | AIX CSD | The AIX CSD transfers the bonds to the investors’ accounts at the AIX CSD | 30 December 2019 |
| First day of secondary trading | AIX | First day of trading | 31 December 2019 |
Please note, for cash transfers to the Book-build settlement bank, Market Participants must send in one aggregated transfer all monies received by their customer the AIX CSD Book-build settlement bank.
By participating in the Book-Building, the AIX Market Participants explicitly consent to provide to the Issuer through the Lead Manager the identity of the investors (who have submitted their orders through Market Participants) and undertake that they have received from such investors the authorisation to provide this information to the Issuer, Lead Manager and AIX.
By participating in the Book-Building, the AIX Market Participants accept that the Issuer and Lead Manager may, at its sole discretion, refuse to allocate securities for any reason. Participating Market Participants undertake to convey this information to their clients and receive their approval prior to these clients submitting bids.
By participating in the Book-Building, the AIX Market Participants accept that the final distribution of the bonds may differ from the allocation in case of a shortfall in funding due to uncovered bids.
Please contact AIX CSD, +77172 235 317 / +77172 235 302, or email, [email protected], for additional settlement and allocation information. Please contact AIX Market Operations Department by phone, +77172 647300, or email, [email protected], for additional trading information