/KASE, March 19, 2024/ – A repeated special trading session for the offering of
government short-term treasury bonds of the Ministry of Finance of the
Republic of Kazakhstan (MEKKAM) was held in the trading system of
Kazakhstan Stock Exchange (KASE) today. Below are the bid parameters and
results of the special trading session.
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BID PARAMETERS:
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Number of participants: 11
Number of orders submitted (all / active): 49 / 42
including:
– limit: 43 / 36
– market: 6 / 6
Volume of active orders*, mln tenge: 140,817.0
including:
– limit: 119,103.8
– market: 21,713.2
Bid to ask: х5.1 times
Price on orders submitted, % of face value
(on all / on active ones):
– minimum 90.5661
– maximum 91.5018
– weighted average 91.1806 / 91.1787
Yield on orders submitted, % APR (on all / active ones):
– minimum 11.6800
– maximum 13.1000
– weighted average 12.1648 / 12.1673
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* active orders – orders not annulled by trade participants
at expiry of order submission period including those
confirmed by Confirmation System participants.
In the total volume of active orders, banks accounted for 88.4 %,
other institutional investors – for 11.1 %, other legal entities – for 0.5 %.
OFFERING RESULTS:
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Volume of orders executed, bonds: 300,000,000
Volume of orders executed, tenge: 27,437,544,634.0
Number of orders executed: 13
Number of participants, whose orders were executed: 5
Volume of executed orders, % of plan: 100.0
Volume of executed orders, % of the bid: 19.4
"Clean" cut-off price, %: 91.3556
"Clean" price in orders executed, % of face value:
– minimum 91.3556
– maximum 91.5018
– weighted average 91.4585
Yield at cut-off price, % APR: 11.9000
Yield of bonds to maturity for buyer, % APR:
– minimum 11.6800
– maximum 11.9000
– weighted average 11.7451
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In terms of the main categories of investors, during the placement, 98.8 %
of the total volume was purchased by banks, 1.1 % – by other institutional
investors, 0.1 % – by other legal entities.
Taking into account the previous placement, the total volume of MEKKAM-12
issue 156 (KZK100000316, MKM012_0156) amounted to 1,606,982,728 bonds
with a nominal value of 160,698,272,800 tenge.
Settlements for this offering will be carried out according to the T+2 scheme.
MEKAM sold at today's auction will be admitted to circulation on KASE's
secondary market under the trade code specified in the table on the next
business day after the day of fulfillment of obligations under deals.
The bonds must be quoted in KASE's trading system in clean prices.
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OFFERING TERMS:
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Trade date: 19.03.24
Current maturity: 298 days
Declared offering volume, mln tenge: 30,000.0
Trade subject: "clean" price
Market order execution rate, %: from 0 to 100 depending
on market demand
Order submission method: closed
Order collection time: 09:00–12:00
Order confirmation time: 09:00–12:00
Cut-off date and time: 19.03.24, 15:00
Payment date: 26.03.24
Method of execution of limit offset orders: pro rata to amounts
of offset orders
Method of execution of limit orders: at prices of limit offset
orders equal to the cut-off price or those more
favorable for the seller
Method of execution of market orders: at weighted average price
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The Rules of issue, placement, circulation, service and maturity of government
treasury obligations of the Republic of Kazakhstan are available at
http://kase.kz/files/mix/newgko.pdf
The Rules of placement of government treasury bonds of the Republic of
Kazakhstan are available at
http://kase.kz/files/normative_base/mekam_placement_eng.pdf
Details of the mentioned bond issue are available at
https://kase.kz/en/gsecs/show/MKM012_0156/
[2024-03-19]