/KASE, January 27, 05/ - Kazakhstan stock exchange (KASE) notifies that on
January 27 of 2005 specialized trades on floatation of government long-term
savings treasury instruments of the Ministry of finance of Kazakhstan
(MEUJKAM) of the first issue were held. Below are main parameters of the issue,
terms and results of floatation (Almaty time).
PARAMETERS OF ISSUE:
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Type of security: MEUJKAM -120
National identification number: KZKAKY100014
Trade code of KASE: MUJ120_0001
Face value, KZT: 1,000.00
Time basis: 30/360
Floatation date: January 27, 05
Circulation start date: January 27, 05
Last circulation day: January 26, 15
Maturity date: January 27, 15
Circaultion term: 10 years
Periodicity of coupon payment: 1 time a year*
Schedule of coupon payments: 1 February 7, 06
2 February 7, 07
3 February 7, 08
4 February 6, 09
5 February 5, 10
6 February 7, 11
7 February 7, 12
8 February 7, 13
9 February 7, 14
10 February 6, 15
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* on the fifth working
day of the month in every 12 full calendar months of circulation
FLOATATION TERMS:
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Announced volume, KZT m.: 18,000.0
Floatation price, KZT per bond: 1,000
Subject of trade: fixed coupon rate
Applications submitting method: open
Applications acceptance time: 09:00 - 11:00
Applications confirmation period: 09:00 - 11:30 (Т+0)
Cutting off: until 15:00 (Т+0)
Bids satisfying method: At cut-off price
Stake of market bids satisfaction, %: 30
Payment date: January 27, 05
Payment time: until 15:00 (Т+0)
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DEMAND PARAMETERS:
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Number of participants - primary dealers: 8
Number of submitted bids (total / confirmed): 84 / 39
including limited: 58 / 23
including market bids: 26 / 16
Volume of confirmed bids, KZT m.: 45,690.0
including limited: 27,275.0
including market bids: 18,415.0
Demand to offer, %: 253.8
Coupon rate on confirmed bids, % APR:
minimum: 0.01
maximum: 0.50
weighted average: 0.1984
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FLOATATION RESULTS:
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Volume of satisfied bids, KZT m.: 22,190.0
Fixed coupon rate, % APR: 0.01
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MEUJKAM are government bonds, which are floated among Kazakhstan
accumulative pension funds. Within the half of circulation term MEUJKAM may
circulate only among this category of investors. Afterwards they are freely
circulating on the market.
Indexation of money invested into MEUJKAM is made by calculating the indexed
coupon received by adding the fixed coupon, which is determined during
floatation, to inflation rate for the past coupon period.
Detailed information about MEUJKAM is given in Rules of issue, floatation,
servicing and maturity of government treasury instruments of Kazakhstan
(
http://www.kase.kz/mix/newgko.pdf), which were approved by the resolution of
Kazakhstan Government dated September 8 of 2004 #941 and took effect since
January 1 of 2005.
Floated MEUJKAM are automatically admitted to circulation on KASE's
secondary market under the symbol given in the table. Bonds must be quoted in
KASE's trade system in "dirty" prices.
[2005-01-27]