Weekly Ministry of Finance balance on the Internal Securities - Plus 2,113.2 million tenges
/IRBIS, Dec10, 99/
The Ministry of Finance has finished 50th calendar week in the State Securities primary market with the following results. At actual volume of redemption of 2,159.4 million tenges the emitter attracted 4,272.6 million tenges (3,908.9 million tenges + $2,629 million at the official rate on the date of placement).
The week balance of the emitter under the internam borroving program is positive and is evaluated by 2,113.2 million tenges.
Issuance and repayment schedule for securities of the Ministry of Finance of Kazakhstan for this week
/IRBIS, De� 10, 99/
From December 13 to 19 on primary market for state securities of Kazakhstan for securities of the Ministry of Finance:
� Issuance, December 13 � $4 mln, MEKAVM-6 (#26, KZ46L1406A02).
� Issuance, December 14 � $4 mln, MEKAVM-9 (#2, KZ49L1309A07).
� Maturity, December 16 � $6.1 mln (MEKAVM-3 #23, KZ43L1612993).
Total repayment volume of state securities of the Ministry of Finance at 138.35 tenge per dollar is estimated to be 839.7 mln tenge.
Capitalization of the market of Non-state Securities of Kazakhstan has reached the record
/IRBIS, Dec 10, 99/
On December 10 capitalization of the exchange market of Non-state Securities of Kazakhstan (A + B + N without the State Block of Shares) has amounted to $2,263.7 million that is the maximum level for the whole history of Kazakhstani market.
For two weeks capitalization has grown by $116,700 due to increase of the market prices of the following shares: preference shares of JSC �Margarinovyi zavod� (Karaganda), common shares of JSC �Kazahmys Corporation� (at the maximum price of the given tool - $21.0 for share), and also at the expense of fixing of a market price of the �Bank TuranAlem� shares, which has remarkable exceeded their nominal value.
The deals can be made on KASE today in 88 tools of the 66 companies and 4 state blocks of shares.
Weekly volume of Non-state Securities transactions on KASE - $313.1
/IRBIS, Dec 10, 99/
Within 50th week (December 06-12) on the Kazakhstan stock exchange (KASE) 8 transactions totaling $313,100 were made. In comparison with the previous period the number of trade has increased in dollars 6.6 times or by $265,400. During the previous period 3 transaction to the sum of $47.7 were made.
The total volume of the transactions has reached 18,552 shares that is by 50.4% less than in the previous week (37,400 shares).
The trades have been made in 5 tools. The trade on common and preferred shares of �RG BRANDS� (the sector �Non-listing securities�, security clearance 1, trade code RGBRb).
Also transaction have been made in the usual favorites of the market: �KAZAKMYS Corporation� (KZMS, official list, category �B�) and preferred shares of �Mangistaumunaigaz� (MMGZp, official list, category �B�). For the first time on the platform the deals in common shares of �BankTuranAlem� (BTAS, official list, category �A�) have been made.
3 transactions from 8 have been conducted in the KASE Quoted System, excluding automatic satisfaction of the counter auction applications (so-called direct transactions). Five transaction (MMGZp and BTAS) have been conducted in the basic mode of KASE Trade System.
Week volume of USD transactions on KASE � $24.050 million
/IRBIS, Dec 10, 99/
US dollar: within the 50th week (December 06 -12) on the Kazakhstan Stock Exchange (KASE) 922 transactions totaling $39.200 million were made at average session volume of $4.810 million.
Tenge devaluation, calculated at the average weighted exchange rate, is evaluated by the one week trend of 2.2% p.a. (tenge reevaluated).
In the previous week 361 deals totaling $19.040 million at average session volume of $3.808 million were made. During that period tenge revaluation rate has made 19.4% p.a.
Devaluation of tenge towards US dollar, calculated at average weighted exchange rate on December 10, is 68.5% p.a. � from the beginning of the current year. Tenge revaluation for the last 30 days is 14.6% p.a.
Deutsche mark: 12 transactions totaling DEM10 were made. The deutsche mark rate has increased by 1.5%, that corresponds to 80.2% p.a. of the week average rate of tenge revaluation.
Euro: no deals were made.
Total volume of the transactions in foreign currency within the 50th week is 3,327.4 million tenges or $24,055,200.
Last week USD supply has balanced demand on the Kazakhstan market
/IRBIS, Dec 10, 99/
Last week on the Exchange market of republic has illustrated its equilibrium condition.
First half of week has passed at a rather great dollar demand from the part of the banks of the second tier, which have apprehended a turn in a dollar rate trend and have begun to open a long positions.
On Monday on KASE the strong demand has been observed. However on Tuesday it has started to decrease in parallel with the trade volume. The dollar rate has been growing however speed of this growth has decreased essentially.
On Wednesday the market was not active at the minimum volume of transactions. The dollar rate was stabilized. Obliged to pay for the State Securities bought on the week�s auctions (including notes of the National Bank) banks preferred to refrain from the further currency positions lengthening. In result after dinner the dollar rate in the interbank market was below Exchange�s, and the dollar demand was practically absent.
Most likely, this factor caused the rather big USD supply on Thursday�s and Friday�s trades on KASE from the site of the Bank of the second tier. The IRBIS�s analysts do not exclude that these dollars belonged to the exporters. The demand could not balance the supply, and dollar started to lose points.
The week�s events completely confirmed the forecasts of the head and dealers of the National Bank. They approved that the dollar strengthening tendency could not be too significant at the existing dollar market saturation. There are no objective preconditions for a sharp growth.
The current trend of devaluation is evaluated by 2.2% p.a., whereas the rates in the primary and secondary State Securities markets change from 13.4% (the shortest) to 16.5% (longest securities). In the Euronotes market the yield in a dollar equivalent is kept at the level of 10-12% p.a. Therefore, the banks and their customers prefer State Securities, and the volume of transactions in them grows in all sectors.
In the IRBIS experts opinion, there will be no any cardinal changes in the next week on the Exchange market. Some dollar rate oscillation are possible at the minimum speed of its changes.
At KASE demand and supply of USD is still balanced
/IRBIS, Dec 13, 99/
The morning trades in US dollar, Deutsche mark and Euro were held at Kazakhstan stock exchange (KASE) with TOD payment terms. 20 banks participated in the trades.
Today the trades in US dollars opened at 138.15 tenge per unit. Total of 126 deals were made. Weighted average dollar exchange rate equaled to 138.17 (-0.07) tenge per unit. Volume of the session � $7,615 mln (+$2,850 mln). Exchange rate fluctuation during the trade did not exceed0.03%. The trades were closed at 138.17/18 tenge per dollar.
Today the session went in balanced market. Almost all deals were made within a narrow price range of 138.17 - 138.18 tenge per dollar. Major participants of the trade were two banks from the sellers side and one bank from the buyers side. Other dealers only preferred either to buy or sell dollars, restricting themselves with deals not exceeding 500 thousand US dollars.
Aidar AKHMETOV
ALMATY, Dec 14
(THE GLOBE)
In Astana on December 10 a closed tender for privatization of a part of the state shareholding of the JSC Halyk Bank of Kazakhstan. Seventeen juridical persons and consortiums invited to participate in the tender.
Karim Masimov, the chairman of the Halyk Bank Board stated on December 14 in Almaty that Asia-Invest consortium won the tender. Asia-Invest includes KomirBank, the Almaty Commercial Bank and Asia-Invest company.
In the result of the tender, the state share equity in Halyk Bank has reduced from 80% to 50% plus a stock. A part of the state shareholding of 6,031,066 stocks sold for 1 billion 1,387,283,180 tenge, i.e. 230 tenge per 1 stock. The nominal price of 1 stock of the Halyk Bank is 100 tenge.
Masimov said that according to the law �ON joint-stock companies�; each shareholder of the Bank has the right to buy stocks of the new issue. Each shareholder possessing 5 stocks of the previous emissions could purchase 1 stock of the new emission. According to the results of the emission, 1,038 shareholders purchased 720,342 stocks at a price of 141 tenge per 1 stock.
According to Masimov, the rest stocks were distributed among shareholders of the Bank, who wished to increase their share. In the result, 5,311,324 stocks were sold to Delta, a shareholder of Halyk Bank. The company Arthur Andersen, an advisor on the fourth additional emission, recommended the placement price.
The gained money in the amount of 850,464,906 tenge was referred to the capitalization of the bank. However, Masimov considers the capitalization insufficient.
The privatization of Halyk Bank of Kazakhstan started in 1998 and is a part of the governmental program on reorganization of the banking sector.
In conclusion Masimov stated that the current partial privatization of the Bank was to be interpreted as an optimal strategy on its long-term privatization.
Erkanat ABENI
ASTANA, Dec 13 (THE GLOBE)
�In 2000 we plan to issue internal bonds for the amount of about 1 billion tenge,� the Akim of the Kazakhstani capital announced on Monday, December 13, in Astana.
Adilbek Dzhaksybekov said that these securities were being prepared by the city�s budget operator JSC Astana-Finance.
In the next year it is planned to attract not less than US$ 300 million of direct foreign investments and the city�s budget would invest about US$ 100 million to construction of the capital. From the moment when Astana was announced the capital, about 61.8 billion tenge (i.e. US$ 400 million) has been utilized.
According to the Akim, today the official unemployment in Astana is 1.2%. �This figure is not underestimated,� he assured. However, people arrived to Astana from neighboring oblasts and still unregistered, are not taken into consideration. The Akim failed to give the number of these people in Astana.
According to the Akimat press service, for the last two years the number of the Astana population has increased by 40,000 people. Today is comes to about 322,000 people.
ALMATY, Dec 10 (IRBIS)
As it has been informed earlier, today one of investors of OJSC �Bank TuranAlem� (Almaty, official list of securities, category �A�) planned to enter the trade floor of KASE state owned block of 10,000 common inscribed shares of the bank.
The campaign was preceded by a presentation for potential investors, which included:
� announcement of events planned by KASE and its members, which should happen on trade floors of the Exchange in near future (entering the trade floor shares of OJSC �Bank TuranAlem�, offering municipal bonds of Almaty and Atyrau region);
� short review-presentation of major indicators in activities of OJSC �Bank TuranAlem� compared with that of six biggest banks of Kazakhstan (prepared by KASE);
� presentation of OJSC �Bank TuranAlem�, prepared by its employees with their comments and explanations.
The bank aims at solving the following issues by entering its shares on the trade floor:
� Bringing out to free market big numbers of its shares will let OJSC �Bank TuranAlem� to increase the number of its shareholders remarkably (as of August 27 there were 27 of them), and thus, get closer to established standards.
� Selling shares, previously placed among the shareholders, will allow to determine the price for the next planned 5th issue for a total of 4.0 bln tenge to be offered public.
� With significant number of shares freely trading, affiliated subdivision of the bank � LLP �TuranAlem-securities� would be able to take responsibilities of a specialist or a market-maker for the bank�s shares, which will stimulate the trade in these securities on KASE.
On trades in common inscribed shares of OJSC �Bank TuranAlem� (trade code BTAS) 4 deals were made totaling $42,210.00, that is 500 share block. All deals were conducted at $90.42 per share.
BTAS were entered into KASE official list of securities in category �A� by the decision of the Exchange�s board on September 08, 99.
Trades in this instrument were opened on September 21, 99, but no deals have not been made yet, since the bank shareholders are not interested in selling their shares.
Par value of OJSC �Bank TuranAlem� shares is 10 thousand tenge. As of July 01, 99 book value was equal to 5,484.09 tenge.
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