REVIEW: Government Securities market on KASE in February 2011

/IRBIS, March 5, 2011/ - In February 2011, on the Kazakhstan Stock Exchange (KASE) in the sector of sale of GS, including location, recorded 145 transactions totaling KZT76,658.0 million (equivalent to USD524.1 million), accounting for 3.5 % of total trading volume on KASE (in January 2011 - 2.2%). With regard to January 2011 trading volume in the sector increase by 2.0 times, relative to February 2011 rose by 57.9%. Ministry of Finance of Kazakhstan in February 2011 held 3 auctions at KASE on placement of bonds: February 16, 2011 held auction of government treasury bills of the Ministry of Finance MEKKAM-12 issue 113 (KZK1KY011131, MKM012_0113; 100 KZT, 16.02.11 - 16.02.12, 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 19 primary dealers, filed 50 active applications. Total volume of orders (demand volume) amounted to 47,032.6 million KZT (320.3% of the offered volume of bonds). The weighted average price of bonds in satisfied bids was 98.3908% per annum. As a result of trade, the issuer granted the application for the purchase of 150.0 million of bonds at 14,758.6 million KZT (100.0% of the offered volume of bonds). February 18, 2011 held an auction on placement of mid-term treasury bills of the Ministry of Finance MEOKAM-48 Issue 45 (KZK2KY040451, MOM048_0045, 1000 KZT, 02.18.1911 - 18.02.1915, 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 30 primary dealers, filed 77 active applications. Total volume of active bids (demand volume) was 100,600.1 million KZT (718.6% of the offered volume of bonds). Coupon submitted by active bids ranged from 2.00% to 5.00% per annum, amounting in average terms, 3.7970% per annum. As a result of trade, the issuer has established the rate at 3.30% per annum, meeting the request for $20,096.7 million KZT (143.5% of the offered volume of bonds). February 25, 2011 specialized trades on placement of long-term treasury bills of the Ministry of Finance MEUJKAM-120 seventh edition (KZKAKY100071, MUJ120_0007; 1,000 KZT, 02.25.1911 - 02.25.1921, 30/360). Negotiable performed a fixed coupon. It was originally planned to place the bonds at $ 15,000.0 million KZT. In the auction was attended by 13 primary dealers that have filed 27 active applications. Total volume of active bids (demand volume) was 114,840.0 million KZT for a nominal value of bonds (765.6% of the offered volume of bonds). As a result of trade, the issuer a fixed coupon rate at 0.01% per annum, meeting the application for purchase of 15.0 million bonds (100.0% of the suggested amount). Statistical indicators of the secondary market GS in February 2011 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 - 15.6% (26.5%) of the market ------------------------------------------------------------------------------ Less 8 0.25 0.25 0.25 0.25 669.97 1.00 43 - 56 0.75 0.75 0.75 0.75 399.62 2.00 64 - 91 0.92 0.93 0.93 0.92 (0.94) 3,122.06 6.00 -------------- -------- ------- ------- ------------- --------------- -------- Total 4,191.6 9 (5,530.4) (12) -------------- -------- ------- ------- ------------- --------------- -------- Coupon GS (KZT): MAOKAM, MEOKAM, MEUKAM, MEUJKAM - 84.4% (73.5%) of the market ------------------------------------------------------------------------------ Less 730 0.95 7.19 1.95 2.27 (2.70) 1,452.2 9 731 - 1095 -4.37 -4.37 -4.37 -4.37 (3.00) 580.10 1 1096 - 1460 4.85 5.13 4.24 4.96 (5.28) 599.5 5 1826 - 2190 4.30 5.50 5.50 4.76 (5.06) 5,230.72 13 More 2191 4.31 5.50 5.00 4.87 (5.42) 14,748.51 40 -------------- -------- ------- ------- ------------- --------------- -------- Total 22,611.0 68 (15,377.3) (71) -------------- -------- ------- ------- ------------- --------------- -------- GRAND TOTAL 26,802.7 77 (20,907.7) (83) ------------------------------------------------------------------------------ The share of exchange trading volume of total transactions in the Kazakhstan's GS secondary market in February 2011 amounted to 89.8% (in January 2011 - 89.4%). [2011-03-05]