/KASE, October 4, 2024/ – By a decision of the Board of Directors of the
Kazakhstan Stock Exchange (KASE) dated September 27, 2024, changes No. 1
(the changes) to KASE's internal document "Methodology for calculating
market prices of securities" (Methodology) were approved, with effect as of
November 1, 2024.
The changes were made in order to introduce an additional criterion for the
implementation of a market assessment of non-indexed bonds issued by
international financial institutions and denominated in tenge (hereinafter –
securities), namely:
- market prices for IFI securities, the issuer of which has a rating of "A" or
higher on the international scale of the rating agency S&P Global Ratings or
a rating of a similar level on the international scale of other rating
agencies, shall be determined based on the yield of government securities
(determined at the time of calculating the market price in accordance with
the Methodology for determining the yield function of government securities
of the Republic of Kazakhstan) with the same maturity as IFI securities,
taking into account the increasing coefficient (IFI SPREADres);
- market prices for the securities of international financial institutions, the
issuer of which has a rating assessment below "A" on the international scale
of the rating agency S&P Global Ratings or a rating assessment of a similar
level on the international scale of other rating agencies, shall be determined
in accordance with the procedure for calculating the market prices of
corporate securities established by the Methodology.
The updated text of the Methodology will be published on KASE's Internet
resource at
https://kase.kz/en/kase_rules/">
https://kase.kz/en/kase_rules/ (tab "Methodology").
The Methodology for determining the yield function of government securities of
the Republic of Kazakhstan is published on KASE's Internet resource at
https://kase.kz/en/kase_rules/">
https://kase.kz/en/kase_rules/ (tab "Methodologies").
[2024-10-04]