REVIEW: Government Securities market on KASE in January 2011

/IRBIS, February 7, 2011/ - In January 2011, on the Kazakhstan Stock Exchange (KASE) in the sector of sale of GS, including location, recorded 126 transactions totaling KZT38,165.1 million (equivalent to USD259.7 million), accounting for 2.2 % of total trading volume on KASE (in December 2010 - 3.1%). With regard to December 2010 trading volume in the sector increase by 48.3%, relative to January 2010 rose by 62.6%. Ministry of Finance of Kazakhstan in January 2011 held 3 auctions at KASE on placement and the additional placement of bonds: January 19, 2011 held auction of government treasury bills of the Ministry of Finance MEKKAM-12 issue 112 (KZK1KY011123, MKM012_0112; 100 KZT, 19.01.11 - 19.01.12, actual/actual). Negotiable advocated price of bonds. It was originally planned to place the bonds at 15,000.0 million KZT. In the auction was attended by 14 primary dealers, filed 37 active applications. Total volume of orders (demand volume) amounted to 38,015.3 million KZT (258.5% of the offered volume of bonds). The weighted average price of bonds in satisfied bids was 98.3120% per annum. As a result of trade, the issuer granted the application for the purchase of 45.0 million of bonds worth 4,424.0 million KZT (30.0% of the offered volume of bonds). January 25, 2011 held auction of government treasury bonds of the Ministry of Finance MEUKAM-156 third edition (KZKDKY130034, MUM156_0003; 1,000 KZT, 01.25.1911 - 25.01.1924, 30/360). Negotiable advocated the coupon rate. It was originally planned to place the bonds at 14,000.0 million KZT. In the auction was attended by 19 primary dealers, filed 38 active applications. Total volume of active bids (demand volume) was 51,290.0 million KZT (366.4% of the offered volume of bonds). Coupon submitted by active bids ranged from 5.10% to 7.50% per annum, amounting in average terms, 5.9180% per annum. As a result of trade, the issuer has established the rate at 5.15% per annum, meeting the request for 2,833.3 million KZT (20.2% of the offered volume of bonds). January 28, 2011 specialized trades on placement of long-term treasury bills of the Ministry of Finance MEUJKAM-228 of the fourth issue (KZKAKY190049, MUJ228_0004; 1,000 KZT, 01.28.1911 - 01.28.1930, 30/360). Negotiable performed a fixed coupon. It was originally planned to place the bonds in the amount of 10,000.0 million KZT. In the auction was attended by 11 primary dealers, filed 21 active application. Total volume of active bids (demand volume) was 110,345.0 million KZT for a nominal value of bonds (1 103.5% of the suggested amount of bonds). As a result of trade, the issuer a fixed coupon rate at 0.01% per annum, meeting the application for purchase of 10.0 million bonds (100% of the suggested amount). Statistical indicators of the secondary market GS in January 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 - 26.5% (45.5%) of the market ------------------------------------------------------------------------------ 8 - 14 0.20 0.50 0.20 0.24 (0.46) 979.9 2 15 - 28 1.00 1.00 1.00 1.00 (1.00) 499.7 2 64 - 91 0.80 0.98 0.96 0.94 (0.96) 3,047.4 5 92 - 181 1.47 1.47 1.47 1.47 (1.50) 695.0 1 182 - 364 1.10 1.76 1.10 1.39 308.4 2 -------------- -------- ------- ------- ------------- --------------- -------- Total 5,530.4 12 (33,645.2) (21) -------------- -------- ------- ------- ------------- --------------- -------- Coupon GS (KZT): MAOKAM, MEOKAM, MEUKAM, MEUJKAM - 73.5% (54.5%) of the market ------------------------------------------------------------------------------ Less 730 1.50 7.30 1.95 2.70 (3.63) 3,138.3 16 731 - 1095 3.00 3.00 3.00 3.00 (4.63) 24.39 1 1096 - 1460 3.07 7.70 4.24 5.28 (4.14) 5,352.9 19 1461 - 1825 3.80 4.15 4.15 4.06 (5.63) 1,915.35 8 1826 - 2190 4.40 5.60 4.65 5.06 (5.06) 1,897.06 10 More 2191 5.15 5.60 5.30 5.42 (5.49) 3,049.23 17 -------------- -------- ------- ------- ------------- --------------- -------- Total 15,377.3 71 (40,232.6) (126) -------------- -------- ------- ------- ------------- --------------- -------- GRAND TOTAL 20,907.7 83 (73,877.8) (147) ------------------------------------------------------------------------------ The share of exchange trading volume of total transactions in the Kazakhstan's GS secondary market in January 2011 amounted to 89.4% (in December 2010 - 84.2%). [2011-02-07]