Kazakhstan Stock Exchange Holds Special Trading Sessions for Government Treasury Bonds

Strategic Insights -

The Kazakhstan Stock Exchange (KASE) hosted two special trading sessions on August 12, 2025, for the offering and additional offering of government mid-term treasury bonds of the Ministry of Finance of the Republic of Kazakhstan (MEOKAM). The offering was designed to raise 60,000 million tenge, with a current maturity of 4 years (1,435 days). The trading sessions were conducted on the KASE's trading system, with participants submitting orders and actively participating in the auction.

Key Takeaways:

  • The offering and additional offering of government mid-term treasury bonds were held on August 12, 2025, with a declared volume of 60,000 million tenge.
  • The bonds had a current maturity of 4 years (1,435 days) and were offered at a "clean" price.
  • The market order execution ratio ranged from 0 to 100% depending on market demand, with a bid-to-ask ratio of 143.8% for the offering and 78.3% for the additional offering.
  • A total of 6 participants submitted orders during the offering, with a volume of 86,053.9 million tenge, while 4 participants submitted orders during the additional offering, with a volume of 47,131.9 million tenge.
  • The bonds were primarily purchased by other institutional investors, with 78.9% of the total volume being allocated to this category.
  • The "clean" price in orders executed ranged from 99.9872% to 100.0434% of face value, with a weighted average of 100.0035%.
  • The yield of bonds to maturity for the buyer ranged from 16.9900% to 17.0100% APR, with a weighted average of 17.0005%.
  • The total volume of purchased bonds was 53,172,016, with a nominal value of 53,349,744,936.2 tenge.

Statistics:

  • Declared offering volume: 60,000 million tenge
  • Declared additional offering volume: 60,000.0 million tenge
  • Current maturity: 4 years (1,435 days)
  • Number of participants in the offering: 6
  • Number of participants in the additional offering: 4
  • Volume of active orders (offering): 86,053.9 million tenge
  • Volume of active orders (additional offering): 47,131.9 million tenge
  • Market order execution ratio (offering): from 0 to 100%
  • Market order execution ratio (additional offering): from 0 to 100%
  • Bid-to-ask ratio (offering): 143.8%
  • Bid-to-ask ratio (additional offering): 78.3%
  • "Clean" price in orders executed (offering): 99.9872% - 100.0434%
  • "Clean" price in orders executed (additional offering): 99.9872% - 100.0434%
  • Yield of bonds to maturity for buyer (offering): 16.9900% - 17.0100%
  • Yield of bonds to maturity for buyer (additional offering): 16.9900% - 17.0100%

Sources:

  • Kazakhstan Stock Exchange announcement, August 12, 2025