/KASE, March 26, 2024/ – A repeated special trading session for the offering
of government long-term treasury bonds of the Ministry of Finance of the
Republic of Kazakhstan (MEUKAM) was held in the trading system of Kazakhstan
Stock Exchange (KASE). Below are the bid parameters and the results of the
special trading session.
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BID PARAMETERS AT OFFERING:
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Number of participants: 6
Number of orders submitted (all / active): 24 / 23
including:
– limit: 21 / 20
– market: 3 / 3
Volume of active orders*, mln tenge: 63,552.7
including:
– limit: 42,552.7
– market: 21,000.0
Bid to ask: х2.1 times
"Clean" price on orders submitted, % of face value
(on all / on active ones):
– minimum 93.3498
– maximum 95.5292
– weighted average 94.2148 / 94.2473
Yield on orders submitted, % APR (on all / active ones):
– minimum 11.4000
– maximum 12.6000
– weighted average 12.1128 / 12.1006
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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 67.3 %,
other institutional investors – for 31.5 %, and other legal entities –
for 1.2 %.
OFFERING RESULTS:
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Volume of orders executed, bonds: 26,411,598
Volume of orders executed, tenge: 26,999,998,514.9
Number of orders executed: 4
Number of participants, whose orders were executed: 3
Volume of executed orders, % of plan: 88.0
Volume of executed orders, % of the bid: 42.0
"Clean" price in orders executed, % of face value: 95.5292
Yield of bonds to maturity for buyer, % APR: 11.4000
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In terms of the main categories of investors, during the placement, 25.9 %
of the total volume was purchased by banks, 74.1 % – by other institutional
investors.
Taking into account the earlier offering, the total volume of MEUKAM-108 of
the 12th issue (KZKD00000915, MUM108_0012) amounted to 369,290,173
bonds for the amount of the face value of KZT369,290,173,000.
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: 26.03.24
Current maturity: 2.3 years (817 days)
Declared offering volume, mln KZT: 30,000.0
Trade subject: "clean" price
Market order execution ratio, %: 70
Order submission method: closed
Order collection time: 09:00–12:00
Order confirmation time: 09:00–12:00
Cut-off date and time: 26.03.24, 15:00
Payment date: 28.03.24
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
http://kase.kz/en/gsecs/show/MUM108_0012/
[2024-03-26]