REVIEW: GS market on KASE in December 2010

/IRBIS, January 12, 2010/ - In December 2009, on the Kazakhstan Stock Exchange (KASE) in the sector of sale of GS, including location, recorded 307 transactions totaling KTZ 195,913.4 million (equivalent to 1,317.0 million U.S. dollars), representing 8.4% of total trading volume on KASE (in November 2009 - 4.8 %). Concerning the September 2009 volume of trading in the sector declined by 19.8% on October 2008 - grew by 5.0%. In December the Ministry of Finance carried out six auctions on offering bonds. December 2, there was a auction on placement of mid-term Treasury obligations of the Ministry of Finance MEOKAM-36 Release 78 (KZK2KY030783, MOM036_0078; KZT 1,000, 02.12.09 - 02.12.12, 30/360). Negotiable advocated Coupon. It was initially planned to offer bonds worth KZT 12,000.0 million. In the auction was attended by 14 primary dealers, who submitted 51 active applications. Total volume of orders (demand volume) was KZT 65,800.0 million (548.3% of the proposed volume of bonds). Coupon for filing ranged from 4.80% to 6.50% per annum, making in average terms, 5.5548% per annum. As a result of trade, the issuer has established the rate at 5.10% per annum, thereby satisfying the request for $ KZT 15,000.0 million (125.0% of the proposed volume of bonds). December 8, 2009 there was auction on placement of short-term Treasury obligations of the Ministry of Finance MEKKAM-6 release 186 (KZK1KY061899, MKM006_0189; KZT 100, 08.12.09 - 08.06.10, actual / actual). Negotiable advocated price bonds. It was initially planned to offer bonds worth KZT 12,000.0 million. In the auction was attended by 19 primary dealers, who submitted 77 active applications. Total volume of orders (demand volume) was KZT 67,602.5 million in nominal value of debt (574.1% of the proposed volume of bonds). Price bonds satisfied bids ranged from 98.7688 to 98.8174% per annum% per annum, making in average terms of 98.7931% per annum. As a result of trade, the issuer granted the application for the purchase of 133.3 million of bonds at $ 13 KZT 172.4 million (111.1% of the proposed volume of bonds). December 11, 2009 held an auction on placement of government treasury bonds, Ministry of Finance MEUKAM-156 of the first issue (KZKDKY130018, MUM156_0001; KZT 1,000, 11.12.09 - 11.12.22, 30/360). Negotiable advocated Coupon. It was initially planned to offer bonds worth KZT 13,000.0 million. In the auction was attended by 11 primary dealers, filed 22 active application. Total volume of orders (demand volume) amounted to KZT 11,410.0 million for a nominal value of bonds (150.0% of the proposed volume of bonds). Coupon in the bids varied from 5.00% per annum to 8.00% per annum, making in average terms, 6.7276% per annum. As a result of trade, the issuer has established the rate at 6.80% per annum, thereby satisfying the request for KZT 7,070.0 million (54.4% of the proposed volume of bonds). December 15, 2009 held an auction on placement of government long-term Treasury obligations of the Ministry of Finance MEOKAM-48 Issue 41 (KZK2KY040410, MOM048_0041; KZT 1,000, 15.12.09 - 15.12.13, 30/360). Negotiable advocated Coupon. It was initially planned to offer bonds worth KZT 12,000.0 million. In the auction was attended by 11 primary dealers, filed on 24 active applications. Total volume of orders (demand volume) amounted to KZT 29,960.0 million (249.7% of the proposed volume of bonds). Coupon for filing ranged from 5.00% to 7.00% per annum, making in average terms, 5.9290% per annum. As a result of trade, the issuer has established the rate at 5.20% per annum, thereby satisfying the request for KZT 10,260.0 million (85.5% of the proposed volume of bonds). December 23, 2009 held an auction on placement of government treasury bills of the Ministry of Finance MEKKAM-12 Issue 102 (KZK1KY011024, MKM012_0102; KZT 100, 23.12.09 - 23.12.10, actual / actual). Negotiable advocated price bonds. It was initially planned to offer bonds worth KZT 13,000.0 million. In the auction was attended by 19 primary dealers, who submitted 64 active applications. Total volume of orders (demand volume) amounted to KZT 43,493.6 million (348.1% of the proposed volume of bonds). Price bonds satisfied bids ranged from 96.6184 to 97.0874% per annum% per annum, making in average terms of 96.8413% per annum. As a result of trade, the issuer granted the application for the purchase of 208.0 million of bonds for KZT 20,143.0 million (160.0% of the proposed volume of bonds). December 30, 2009 held an auction on placement of government treasury bonds, Ministry of Finance MEUJKAM-228 Second Edition (KZKAKY190023, MUJ228_0002; KZT 1,000, 30.12.09 - 30.12.28, 30/360). The subject of bargaining played a fixed coupon. It was initially planned to offer bonds worth KZT 13,000.0 million. Participated in trades 6 primary dealers and received 9 active applications. Total volume of orders (demand volume) was KZT 44,000.0 million for a nominal value of bonds (338.5% of the proposed volume of bonds). As a result of trade, the issuer of the fixed coupon rate set at 0.01% per annum, thereby satisfying the request for KZT 13,100.0 million (100.8% of the proposed volume of bonds). Statistical indicators of the secondary market in GS in December 2009 are shown in the table (in brackets - comparable figures for previous months). ---------------------------------------------------------------------------- Yield to maturity for the buyer, %APR Term -----0------------------------------- Volume, m. KZT Number till maturity min max last WA at market price of deals ------------- ------- ------- ------- ------------- --------------- -------- Discounted GS (KZT): MEKKAM, National Bank's notes - 42,7% (18,3%) of the market ---------------------------------------------------------------------------- менее 8 1.00 1.00 1.00 1.00 (1.02) 35.0 1 8 - 14 0.75 0.75 0.75 0.75 446.9 2 15 - 28 1.59 1.59 1.59 1.59 (2.00) 149.9 1 37 - 42 2.00 2.00 2.00 2.00 (3.00) 5,487.4 3 43 - 56 2.38 2.38 2.38 2.38 8,371.1 5 64 - 91 1.50 2.44 2.02 2.25 (2.38) 13,014.8 16 92 - 181 2.45 3.74 2.49 2.57 (3.20) 20,227.9 24 182 - 364 3.00 4.16 3.30 3.50 (4.14) 2,331.2 9 ------------- ------- ------- ------- ------------- --------------- -------- Total 50,064.1 61 (11,012.7) (38) ------------- ------- ------- ------- ------------- --------------- -------- Coupon GS (KZT): MEOKAM. MEUKAM - 57,3% (81,7%) of the market ---------------------------------------------------------------------------- менее 730 2.67 6.90 6.00 5.55 (3.35) 12,831.89 58 731 - 1095 4.55 7.10 5.35 5.54 (5.94) 6,607.08 35 1096 - 1460 4.20 7.46 4.90 5.21 (5.56) 23,138.58 72 1461 - 1825 5.00 6.80 5.20 5.79 1,135.63 9 1826 - 2190 5.20 7.30 7.30 6.57 (6.47) 692.34 4 более 2191 4.80 7.70 4.80 6.43 (6.72) 22,698.37 66 ------------- ------- ------- ------- ------------- --------------- -------- Total 67,103.9 244 (49,168.5) (214) ------------- ------- ------- ------- ------------- --------------- -------- GRANDTOTAL , , , , 117,168.0 305 (60,181.2) (252) ---------------------------------------------------------------------------- The stake of exchange turnover in total volume of purchase and sale deals of Kazakhstan GS secondary market in December made 90.3 % (in Nov. - 69.4 %). [2009-01-12]