/KASE, April 9, 2024/ – A 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.
------------------------------------------------------------
BID PARAMETERS:
------------------------------------------ -----------------
Number of participants: 11
Number of orders submitted (all / active): 36 / 34
including:
– limit: 30 / 28
– market: 6 / 6
Volume of active orders*, mln tenge: 121,953.4
including:
– limit: 102,723.4
– market: 19,230.0
Bid to ask: х2.7 times
Price on orders submitted, % of face value
(on all / on active ones):
– minimum 88.5940
– maximum 90.3172
– weighted average 89.2067 / 89.2339
Yield on orders submitted, % APR (on all / active ones):
– minimum 10.7400
– maximum 12.9000
– weighted average 12.1181 / 12.0888
------------------------------------------------------------
* 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 93.1 %,
other institutional investors – for 3.6 %, other legal entities – for 3.3 %.
OFFERING RESULTS:
--------------------------------------------------- ----------------
Volume of orders executed, bonds: 475,961,220
Volume of orders executed, tenge: 42,614,626,021.4
Number of orders executed: 16
Number of participants, whose orders were executed: 7
Volume of executed orders, % of plan: 95.2
Volume of executed orders, % of the bid: 34.8
"Clean" cut-off price, %: 89.5041
"Clean" price in orders executed, % of face value:
– minimum 89.5041
– maximum 90.3172
– weighted average 89.5338
Yield at cut-off price, % APR: 11.7500
Yield of bonds to maturity for buyer, % APR:
– minimum 10.7400
– maximum 11.7500
– weighted average 11.7111
--------------------------------------------------------------------
In terms of the main categories of investors, during the placement, 92.5 %
of the total volume was purchased by banks, 1.8 % – by other institutional
investors, 5.7 % – by other legal entities.
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.
-------------------------------------------------------------------------------------------
OFFERING TERMS:
------------------------------------------- -----------------------------------------------
Trade date: 09.04.24
Declared offering volume, mln tenge: 50,000.0
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: 09.04.24, 15:00
Payment date: 11.04.24
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
-------------------------------------------------------------------------------------------
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_0157/
[2024-04-09]