Kazakhstan Stock Exchange Holds Special Trading Sessions for Government Long-Term Treasury Bonds

Strategic Insights -

The Kazakhstan Stock Exchange (KASE) held two special trading sessions on July 22, 2025, for the offering and additional offering of government long-term treasury bonds of the Ministry of Finance of the Republic of Kazakhstan (MEUKAM). The sessions were conducted in KASE's trading system, with the offering and additional offering terms being announced. The offering volume was 60,000 million KZT, while the additional offering volume was 40,000 million KZT. The trading sessions were attended by 7 participants, who submitted 19 orders, including 14 limit orders and 5 market orders. The "clean" price of the bonds ranged from 69.4024% to 73.8780% of the face value, with a weighted average of 69.9609%.

Key Takeaways:

  • The Kazakhstan Stock Exchange held two special trading sessions on July 22, 2025, for the offering and additional offering of government long-term treasury bonds of the Ministry of Finance of the Republic of Kazakhstan (MEUKAM).
  • The offering volume was 60,000 million KZT, with a current maturity of 5.8 years, while the additional offering volume was 40,000 million KZT with the same maturity.
  • The trading sessions were attended by 7 participants, who submitted 19 orders, including 14 limit orders and 5 market orders.
  • The "clean" price of the bonds ranged from 69.4024% to 73.8780% of the face value, with a weighted average of 69.9609%.
  • The yield on the bonds ranged from 15.5800% to 17.1500% APR, with a weighted average of 16.9467%.
  • The total volume of active orders was 36,555,600 million tenge, with banks accounting for 91.7% of the volume, broker-dealer organizations for 1.0%, and other institutional investors for 6.3%.
  • The total volume of active orders at the additional offering was 30,075,700 million tenge, with a bid to ask ratio of 104.8%.
  • The "clean" price in orders executed ranged from 69.8415% to 73.8780% of the face value, with a weighted average of 70.0448%.

Statistics:

  • Volume of orders executed: 86,879,337 bonds
  • Volume of orders executed, tenge: 62,361,700,325.9
  • Number of orders executed: 17
  • Number of participants, whose orders were executed: 9
  • Volume of executed orders, % of plan: 144.8
  • Volume of executed orders, % of the bid: 93.5
  • "Clean" price in orders executed, % of face value: 70.0448
  • Yield of bonds to maturity for buyer, % APR: 16.9183

Sources:

  • Kazakhstan Stock Exchange (KASE) announcement, July 22, 2025