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Kazakhstan Stock Exchange Holds Special Trading Sessions for Government Bonds

Strategic Insights

— 1 min read

On September 2, 2025, the Kazakhstan Stock Exchange (KASE) conducted two special trading sessions for the offering and additional offering of government mid-term treasury bonds of the Ministry of Finance of the Republic of Kazakhstan (MEOKAM). The sessions aimed to sell 60,000 million KZT and 55,000 million KZT worth of bonds, respectively.

Key Takeaways:

  • The sessions resulted in the execution of 10 orders, with 3 participants having their orders executed, and a total volume of 72,610,217 bonds sold, valued at 69,424,443,729.1 tenge.
  • The "clean" price in the executed orders was 94.7375% of the face value, with a yield of 16.9000% APR for the buyer.
  • The total volume of MEOKAM KZK200000679 bonds sold was 455,553,532, with a nominal value of 455,553,532,000 tenge, split between 14.2% purchased by banks and 85.8% purchased by other legal entities.
  • The sessions were conducted on the terms of "clean" price, where the trade subject was the "clean" price, and market orders were executed at the weighted average price.
  • The cut-off date and time for the additional offering was 02.09.25, 17:00 (T+0), and the payment date was 04.09.25.

Statistics:

  • 60,000 million KZT worth of bonds were offered in the first session, with 4 participants submitting 26 orders (25 active).
  • The bid to ask ratio was 2.3 times, with the "clean" price on orders submitted ranging from 94.5023% to 94.7375% of the face value.
  • The yield on orders submitted ranged from 16.9000% to 17.2000% APR, with a weighted average of 17.0279% APR for all orders and 17.0325% APR for active orders.
  • 55,000 million KZT worth of bonds were offered in the additional session, with 3 participants submitting 8 orders (8 active).
  • The bid to ask ratio was 117.1%, with the "clean" price in the executed orders being 94.7375% of the face value.
  • The total volume of active orders in the additional session was 61,556.1 million tenge, with banks accounting for 3.2% of the volume and other legal entities accounting for 96.8%.

Sources:

  • Kazakhstan Stock Exchange (KASE) announcement, September 2, 2025.

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