REVIEW: Government Securities market on KASE in November 2010

/IRBIS, December 8, 2010/ - In November 2010, on the Kazakhstan Stock Exchange (KASE) in the sector of sale of GS, including location, recorded 184 transactions totaling KZT70,908.0 million (equivalent to USD480.9 million), accounting for 2.1 % of total trading volume on KASE (in October 2010 - 6.0%). With regard to October 2010 trading volume in the sector increase by 51.2%, relative to November 2009 rose by 44.1%. Ministry of Finance of Kazakhstan in November 2010 held 3rd auction at KASE on placement and the additional placement of bonds: November 17, 2010 held auction of government treasury bills of the Ministry of Finance MEKKAM-12 issue 111 (KZK1KY011115, MKM012_0111; 100 KZT, 17.11.10 - 17.11.11, actual/actual). Negotiable advocated price of bonds. It was originally planned to place the bonds in the amount of KZT 10,000.0 million. In the auction was attended by 11 primary dealers, filed 22 active application. Total volume of orders (demand volume) amounted to 29,703.2 million KZT (303.5% of the offered volume of bonds). The weighted average price of bonds in satisfied bids was 98.1746% per annum. As a result of trade, the issuer granted the application for the purchase of 100.0 million bonds to 9,817.5 million KZT (100.0% of the offered volume of bonds). November 24, 2010 held auction of government treasury bonds of the Ministry of Finance MEUKAM-180 third edition (KZKDKY150032, MUM180_0003; 1,000 KZT, 24.11.1910 - 24.11.1925, 30/360). Negotiable advocated the coupon rate. It was originally planned to place the bonds at 12,000.0 million KZT. In the auction was attended by 18 primary dealers, filed 59 active applications. Total volume of active bids (demand volume) was 45,915.0 million KZT (382.6% of the offered volume of bonds). Coupon submitted by active bids ranged from 5.40% to 7.50% per annum, amounting in average terms, 6.2410% per annum. As a result of trade, the issuer has established the rate at 5.60% per annum, meeting the request for 13,383.3 million KZT (111.5% of the offered volume of bonds). November 29, 2010 took repeated specialized auction on placement of long- term treasury bills of the Ministry of Finance MEUJKAM-192 third edition (KZKAKY160034, MUJ192_0003; 1,000 KZT, 11.29.1910 - 28.05.1926, 30/360). Negotiable played "dirty" price of bonds. It was originally planned to place the bonds at 8,000.0 million KZT. In the auction was attended by 14 primary dealers, filed 29 active applications. Total volume of active bids (demand volume) amounted to 75,065.7 million KZT for a nominal value of bonds (901.8% of the offered volume of bonds). As a result of trade, the issuer has established a "dirty" price of bonds at 109.0000% per annum, meeting the request for 5,450.0 million KZT. Statistical indicators of the secondary market GS in November 2010 are shown in table (in brackets - the comparable figures of the previous month). ------------------------------------------------------------------------------ Yield to maturity for the buyer, %APR Term -------------------------------------- Volume, m. KZT Number till maturity min max last WA at market price of deals -------------- -------- ------- ------- ------------- --------------- -------- Discounted GS (KZT): MEKKAM, National Bank's notes - 10.0% (1.6%) of the market ------------------------------------------------------------------------------ Less 8 0.05 0.05 0.05 0.05 790.0 1 64 - 91 0.75 1.09 0.75 0.85 (1.35) 264.6 6 92 - 181 0.75 1.50 1.50 1.27 (1.24) 1,465.1 4 182 - 364 1.68 1.86 1.68 1.81 (2.00) 1,964.0 3 -------------- -------- ------- ------- ------------- --------------- -------- Total 4,483.8 14 (2,765.4) (9) -------------- -------- ------- ------- ------------- --------------- -------- Coupon GS (KZT): MAOKAM MEOKAM. MEUKAM MEUJKAM - 90.0% (95.4%) of the market Coupon GS (KZT): MAOKAM MEOKAM. MEUKAM MEUJKAM - 90.0% (95.4%) of the market ------------------------------------------------------------------------------ Less 730 3.10 7.30 2.92 5.25 (4.77) 44.7 6 1096 - 1460 4.30 7.55 3.90 5.78 (4.82) 16,301.1 44 1461 - 1825 5.63 7.55 5.65 6.58 (4.89) 6,934.9 29 1826 - 2190 5.00 5.90 5.60 5.17 (5.26) 7,072.8 17 More 2191 5.00 5.90 5.60 5.57 (5.62) 10,031.8 44 -------------- -------- ------- ------- ------------- --------------- -------- Total 40,385.3 140 (57,098.8) (206) -------------- -------- ------- ------- ------------- --------------- -------- GRANDTOTAL 44,869.0 154 (59,864.2) (215) ------------------------------------------------------------------------------ The share of exchange trading volume of total transactions in the Kazakhstan's GS secondary market in November 2010 amounted to 99.4% (in October 2010 - 79.1%). [2010-12-08]