Complete results of placing of MEKAVM #17/3B

/IRBIS, Sep.07, 99/ - On September 07 the Ministry of Finance of Kazakhstan and the National Bank has conducted the 22nd auction for 91 days MEKAVM -3 placement. Announced volume of issue is determined by the emitter at 3 millions of US dollars. Satisfaction size of the incompetitive applications - 50% from established volume. The complete data and comparison with the previous comparable transh are given below. Type of securities МЕКАВМ-3 МЕКАВМ-3 NSIN KZ43L0912998 KZ43L3011996 Trade code at KASE МВМ003.022 МВМ003.021 IRBIS' registration number 22/3B 21/3B Nominal value, USD 100.00 100.00 Date of issue Sep.07, 99 Aug.31, 99 Beginning of the circulation Sep.09, 99 Aug.31, 99 Date of redemption Dec.09, 99 Nov.30, 99 Maturity 91 days 91 days Number of the Primary dealers 10 (+ 1) Demand, million USD 16.5 (+ 4.2) Yield on demand weig. av., % p.a. 8.79 (+ 0.17) Scheduled volume, million USD 3.0 ( 0) Actual volume, million USD 14.9 (+ 3.3) The cutting off price, USD 97.94 ( 0) The weighted average price, USD 97.94 ( 0) Maximum yield, % p.a. 8.41 ( 0) Weighted average yield, % p.a. 8.41 ( 0) Weighted average yield, eff. % p.a. 8.68 ( 0) The yield is expressed in a currency form. According to the information of the Ministry of Finance, no applications were received from non-residents for the auction. Taking into account the last events on the currency market, the increase of demand for MEKAVM looks quite logical, as well as loss of the investors interest to MEKKAM: the Monday's auction for its next issue placement was not held. However it is necessary to note, that the demand for the indexed securities remains usual for the last month. In the sector of MEKAVM placement the supply/demand parity continues to exist, and investors do not exert pressure on the emitter. There are all basis to assume, that there will be no changes in the near future.In the secondary market the yield of MEKAVM is kept a little below of the Exchange's. The Ministry of Finance has ended 37th week with the following results. At a scheduled volume of the placement of $3,0 millions and KZT 400,0 million (equivalent in tenge at the rate on date of an attraction - 796,6 million) the emitter has attracted $14.9 million (equivalent in tenge at official rate on Sep.07, 99 - 1,967.8 million), whereas actual volume of redemption has made 670.7 million tenges (100.0 million tenges + $3.2 million at an official rate on Sep.07, 99 + 137.5 million tenges - MEIKAM-6 coupon payment + 7.5 million tenges - MEOKAM-6 coupon payment).