Sign in Subscribe
Stock offerings

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

Strategic Insights

— 2 min read

The Kazakhstan Stock Exchange (KASE) recently held two special trading sessions for the offering and additional offering of government long-term treasury bonds of the Ministry of Finance of the Republic of Kazakhstan (MEUKAM) on August 19, 2025. The sessions were conducted in KASE's trading system, with the offering and additional offering terms set as follows: the offering volume was 60 million KZT, and the additional offering volume was 30 million KZT. The bonds were traded on a "clean" price basis, with a market order execution ratio of 0-100% depending on market demand.

Key Takeaways:

  • The special trading sessions for MEUKAM bonds were held on August 19, 2025, with the offering volume of 60 million KZT and the additional offering volume of 30 million KZT.
  • The bonds were traded on a "clean" price basis, with a market order execution ratio of 0-100% depending on market demand.
  • 10 participants submitted 29 orders in the offering session, with a total active volume of 86,589,500 tenge, and 3 participants submitted 3 orders in the additional offering session, with a total active volume of 43,683,800 tenge.
  • The bid-to-ask spread was 193.7% in the offering session and 194.9% in the additional offering session.
  • The "clean" price on orders submitted ranged from 73.4172% to 74.8136% of face value, with a weighted average of 74.3256% in the offering session and 74.5225% to 74.8136% in the additional offering session.
  • The yield on orders submitted ranged from 16.8700% APR to 17.500% APR, with a weighted average of 17.0881% in the offering session and 16.8700% to 17.0000% in the additional offering session.
  • The total volume of MEUKAM bonds sold was 113,269,597 bonds, with a nominal value of 84,646,002,750.8 tenge.
  • The "clean" price in the orders executed was 74.5590% of face value, with a weighted average yield of 16.9814% APR.
  • Banks purchased 46.1% of the total volume, other institutional investors purchased 26.9%, and other legal entities purchased 27.1%.
  • The settlements for the offering will be carried out according to the T+2 scheme, and the MEUKAM bonds will be admitted to circulation on KASE's secondary market on the next business day after the day of fulfillment of obligations under deals.

Statistics:

  • Total volume of MEUKAM bonds sold: 113,269,597 bonds
  • Total nominal value of MEUKAM bonds sold: 84,646,002,750.8 tenge
  • Total volume of MEUKAM bonds issued: 536,939,179 bonds
  • Total nominal value of MEUKAM bonds issued: 536,939,179,000 tenge
  • Bid-to-ask spread: 193.7% (offering session), 194.9% (additional offering session)
  • "Clean" price on orders submitted: 73.4172% to 74.8136% (offering session), 74.5225% to 74.8136% (additional offering session)
  • Yield on orders submitted: 16.8700% APR to 17.500% APR (offering session), 16.8700% to 17.0000% APR (additional offering session)
  • Weighted average "clean" price in orders executed: 74.5590% of face value
  • Weighted average yield of bonds to maturity for buyer: 16.9814% APR

Sources:

  • Kazakhstan Stock Exchange (KASE)
  • Ministry of Finance of the Republic of Kazakhstan (MEUKAM)
  • Astana time

Read more