/KASE, June 4, 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) 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): 31 / 30
including:
– limit: 28 / 27
– market: 3 / 3
Volume of active orders*, mln tenge: 73,627.9
including:
– limit: 67,527.9
– market: 6,100.0
Bid to ask: 155.2 %
Price on orders submitted, % of face value
(on all / on active ones):
– minimum 91.4412
– maximum 94.3416
– weighted average 92.8824 / 92.8758
Yield on orders submitted, % APR (on all / active ones):
– minimum 12.6100
– maximum 13.5000
– weighted average 13.0529 / 13.0547
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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 90.4 %, other
institutional investors – for 9.2 %, other legal entities – for 0.4 %.
OFFERING RESULTS:
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Volume of orders executed, bonds: 50,968,537
Volume of orders executed, tenge: 48,533,722,357.8
Number of orders executed: 18
Number of participants, whose orders were executed: 9
Volume of executed orders, % of plan: 101.9
Volume of executed orders, % of the bid: 65.7
"Clean" cut-off price, %: 93.0554
"Clean" price in orders executed, % of face value:
– minimum 93.0554
– maximum 94.3416
– weighted average 93.2062
Yield at cut-off price, % APR: 13.0000
Yield of bonds to maturity for buyer, % APR:
– minimum 12.6100
– maximum 13.0000
– weighted average 12.9534
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In terms of the main categories of investors, during the offering, 85.4 % of the
total volume was purchased by banks, 14.0 % – by other institutional investors,
0.6 % – by other legal entities.
Taking into account the previous offering, the total volume of MEUKAM-108 of
13th issue (KZKD00001087, MUM108_0013) amounted to 423,220,245 bonds
with a total face value of KZT423,220,245,000.
Settlements for this offering will be carried out according to the T+2 scheme.
MEUKAM 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: 04.06.24
Current maturity: 4.8 years (1,737 days)
Declared offering volume, mln KZT: 50,000.0
Trade subject: "clean" price
Market order execution ratio, %: 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: 04.06.24, 15:00
Payment date: 06.06.24
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/MUM108_0013/
[2024-06-04]