Kazakhstan Stock Exchange Announces Government Bond Offering Results

Strategic Insights -

Kazakhstan's stock exchange has announced the results of a recent government bond offering, providing valuable insights into the country's financial market. The offering, which took place on June 10, 2025, aimed to raise 60 million KZT through the sale of long-term treasury bonds. Despite initial expectations, the special trading session for the additional offering was declared invalid due to a lack of active orders. However, the auction for the initial offering saw a strong response from institutional investors, with a total volume of 10,000,000 bonds sold at a clean price of 100.7759% of face value.

Key Takeaways:

  • The offering was conducted on June 10, 2025, with a planned total volume of 60 million KZT.
  • The special trading session for the additional offering was declared invalid due to a lack of active orders.
  • The auction for the initial offering saw a strong response from institutional investors, with a total volume of 10,000,000 bonds sold.
  • The bonds were sold at a clean price of 100.7759% of face value, resulting in a yield of 14.3000% APR for the buyer.
  • The KASE (Kazakhstan Stock Exchange) conducted the offering in accordance with standard market practices, including closed order submission and confirmation.
  • The bonds are expected to be admitted to circulation on KASE's secondary market after settlement, following the T+2 scheme.

Statistics:

  • Total volume of bonds offered: 60,000,000 KZT
  • Total volume of bonds sold: 10,000,000
  • Clean price of bonds sold: 100.7759% of face value
  • Yield of bonds to maturity: 14.3000% APR
  • Number of participants in the offering: 3
  • Number of orders submitted: 3
  • Volume of active orders: 12,514.3 million tenge
  • Percentage of banks, brokers, and dealers in the offering: 16.0%, 0.4%, and 83.6% respectively
  • Percentage of volume of orders executed: 83.0%

Sources:

  • Kazakhstan Stock Exchange announcement (June 10, 2025)
  • KASE's trading system and clearing system protocols
  • Market reports and financial news outlets, for context and additional information