Complete results of MEKKAM-6 #123 offering

/IRBIS, Feb.8, 00/ - On February 8 the Ministry of finance of Kazakhstan with the National Bank held the 123rd auction for offering MEKKAM-6 (182 days). Announced volume of the issue is determined by the emitter at 500 mln tenge. Size of satisfaction of noncompetitive applications is 50% of specified amount. Following is the complete offering data and comparison with previous similar tranche: Type of the securities МЕККАМ-6 МЕККАМ-6 NSIN KZ46L1008A04 KZ46L0308A03 KASE trade code MKM006.123 MKM006.122 IRBIS registration number 123/6 122/6 Par value, tenge 100.00 100.00 Issuance date Feb.8,2000 Feb.1,2000 Circulation start date Feb.10,2000 Feb.3,2000 Maturity date Aug.10,2000 Aug.3,2000 Days in circulation 182 182 Number of Primary dealers 6 (- 1) Demand, mln tenge 707.6 (+ 100.8) Weighted average yield on demand, % APR 17.91 (+ 0.28) Planned volume, mln tenge 500.0 ( 0) Actual volume, mln tenge 460.8 (+ 99.6) Cut-off price, % of par value 92.15 (- 0.01) Weighted average price, % of par value 92.16 ( 0) Maximum yield, % APR 17.04 (+ 0.03) Weighted average yield, % APR 17.01 ( 0) Effective weighted average yield, % APR 17.74 ( 0) The Ministry of finance says no applications were submitted by non- residents. There were no changed in the sector. The circle of MEKKAM-6 buyers has already been formed and they create a quite stable demand. Prices in submitted bids lowered a little, which should not be considered the pressure on the emitter. The market situation is stable. Therefore, changes in prices can be attributed to working fluctuations of price parameters of the demand. The tactics of the Ministry of Finance did not change. It is likely the yield of MEKKAM-6 that has settled reflects the parity of demand and supply on the market and it is suitable for both the emitter and the investors.