ASTANA, Dec 19 (THE GLOBE)
Asylbek Bisenbaev, the President�s press secretary announced that during his visit to the USA Nursultan Nazarbaev will stay in Spain, where he will negotiate with the Prime Minister Osnar. He added, the visit to Spain had been planed long ago and had been confirmed during the OSCE summit in Turkey. The Kazakhstani leader and the Spanish Prime Minister will discuss Spanish investments to our small and middle-sized business, power resources and light industry.
ASTANA, Dec 19 (THE GLOBE)
In the Kazakhstani capital the inauguration ceremony of the House of Ministries held on December 15. According to the Finance Minister Mazhit Yesenbaev, during three years about US$ 35 million spent to the construction.
People called the House of Ministries �Dollar�, as from above the building resembles to the American banknote.
Weekly balance of the Ministry of Finance�s internal debt � negative 17.9 mln tenge
/IRBIS, Dec 19, 99/
The Ministry of Finance will end the fifty first week on the primary market with following results. With actual repayment volume of 839.1 mln tenge ($6.1 mln at 138.25) the emitter raised 821.2 mln tenge at two auctions.
Balance of the Ministry of Finance�s internal debt for this week is estimated to equal negative 17.9 mln tenge.
As the emitter informs, 23rd issue of MEKAVM-3, which was to be repaid on December 16, was repaid on December 15 due to holidays.
Issuance and repayment schedule for state securities of Kazakhstan for this week /amended and corrected/
/IRBIS, Dec 20, 99/
From December 20 to 26 on primary market for state securities of Kazakhstan:
From the Ministry of Finance
� Issuance, December 20 � 500 mln tenge, MEKAVM-6, #114.
� Issuance, December 21 � 500 mln tenge, MEKKAM-3, #256.
� Issuance, December 23 � 500 mln tenge, MEKKAM-12, #29.
� Issuance, December 24 � $4 mln, MEKKAM-6, #27.
� Coupon payment, December 20 � $9.250 mln (euronotes of the first issue, XS0072056863).
� Maturity, December 20 � $200.0 mln (euronotes of the first issue, XS0072056863).
� Maturity, December 23 � $7.968 mln (MEKAVM-3 #24, KZ43L2312999).
� Coupon payment, December 25 � 1,679.0 mln tenge (MEAKAM, KZ6AK3112A74).
From the National Bank
� Issuance, December 22 � 300 mln tenge, notes-49 #354.
� Maturity, December 23 � 676.6 mln tenge, notes-35 (#/351, KZ95K2312991).
From local executive body of Almaty
� Issuance, December 24 � 400 mln tenge, ALU012.001 (KZ71K2512A00).
Total repayment volume of domestic state securities of Kazakhstan at 138.25 tenge per dollar is estimated at 3,457.3 mln tenge.
When making an analysis it should be taken into consideration, that MEAKAM are under the control of the National Bank, and coupon payments on these papers can not make an influence on the conjuncture of the country�s financial market.
Servicing the debt on euronotes of the first issue is carried out in US dollars, and Kazakhstani investors, who own these bonds, based on previous payments, will receive the funds 3-7 days later than the announced maturity date.
Weekly volume of deals in private issue securities at KASE � $6,113.3 thousand
/IRBIS, Dec 19, 99/
During the 51st week (December 13 - 19) on Kazakhstan stock exchange (KASE) 3 deals were made totaling $6,133.3 thousand in private issue securities (PIS). In previous period 8 deals were made for $313.1 thousand.
During the week volume of operations in monetary terms grew 20 times (by $5,820.3 thousand). Total of 4,238,350 shares were bought and sold.
Such a large volume of deals made in last week is explained by a single deal in common inscribed shares of OJSC �SHNOS� (Shymkent, KASE official list of securities, category �A�, trade code SYRG) totaling 5,999,997.00 US dollars. The deal was made on December 19, and as it was mentioned today, it was the biggest deal in private issue securities during the whole history of an organized market for PIS of Kazakhstan.
This week deals were also made in usual favorite of the market � preferred shares of OJSC �Mangistaumunaigas� (MMGZp, official list of securities, category �B�). Bonds of LLP �RG BRANDS� (�Non-listing securities� sector, 1st admittance level, trade code RGBRb) were also traded.
2 deals out of 3 were direct, that is, they were made by the brokers in Quotation system of KASE, which excludes automatic satisfaction of the applications in counter auction mode.
USD/KZT at closing of the day � 137.90/99 (indicators)
/IRBIS, Dec 19, 99/
According to REUTERS, at closing of interbank currency market of Kazakhstan on December 19 tenge quotations towards US dollar equaled 137.90/99 tenge per dollar.
Compared to the results of the previous day tenge gained 1 point against US dollar on demand and lost 1 point on supply.
In main (morning) session weighted average rate of the dollar with TOD terms equaled 138.01 (-0.04) tenge per dollar and closing quotations � 138.02/03.
At closing of additional day session with TOD terms and the evening trades with TOM and SPT terms dollar quotations were absent.
Vivid trends in moves of the dollar quotations in interbank market were absent in the afternoon. Some firming of the tenge immediately after closing of the Exchange�s trades was compensated by an opposite move of the quotations by the evening. Variations of spreads reached 10 points, lowering down to 6-7 points sometimes.
Based on the behaviors of the dealers, banks and their clients prefer to sell dollars lately. This has been demonstrated by today�s trades at KASE. In dealers� opinion, this situation is due to beginning of payments of the bank clients to the budget. Taking into consideration this fact, it can be assumed the current trend in currency market of the country will last for next remaining weeks of the year. However, firming of the tenge should not be considered a long term trend. Currency market is balanced (and supported) now. Therefore, dollar exchange rate fluctuations in opposite directions are quite possible.
It is interesting that budgetary payments are not making the banks to loose their short term liquidity: quotations for interbank �overnight� tenge deposits remained unchanged whole day today at 1/7 APR without sudden moves.
In IRBIS specialists� opinion, tenge has more chances to firm rather than to lose some points at KASE trades on Monday. But the growth or falling rates of the national currency will not be significant.
ASTANA, Dec 19 (THE GLOBE)
The Presidential press service said THE GLOBE, that during his visit Nazarbaev would meet the World Bank manager on December 20. On the next day he will meet the head of the International Monetary Fund. We remind you that Kazakhstan is going to receive a credit of US$ 453 million from IMF, and a loan of US$ 175 million from the World Bank.
Erkanat ABENI
ASTANA, Dec 15 (THE GLOBE)
On December 15 the ceremony of laying of the first stone of the constructional materials plant Imbau Astana held in the capital.
According to Temirkhan Dosmukhambetov, the manager of the Kazakhstani President�s affairs, this joint venture is a subsidiary of the biggest German concern Imbau. The Kazakhstani party will possess 15% of stocks. The total amount of direct investments will be over DM 130 million.
Uve Frerich, a spokesman of the German company said the construction would be completed in December 2000.
�Initially we will require 1,000 workers of different qualifications. Foreign staff will be less than 10%,� he stated.
He said they would use only Kazakhstani raw materials, as it complies with the international standards.
The plant will produce a wide range of import-substitute constructional materials: decorative panels, special finishing materials, etc.
�The ecological safety will be guaranteed by special devices to purify industrial waters and concrete remains,� Frerich emphasized.
The company negotiates with the Kazakhstani government on some constructional projects in the republic, in particular on metro in Almaty.
ALMATY, Dec 20 /IRBIS/
Today at Kazakhstan stock exchange (KASE) the biggest deal in private issued securities (PIS) was made in the whole history of an organized market for PIS of Kazakhstan.
The deal was made in a block of 4,225,350 common inscribed shares of OJSC �SHNOS� (Shymkent, KASE official list of securities, category �A�, trade code SYRG) for a total of 5,999,997.00 US dollars. The share price was fixed by the deal at $1.42.
The deal was direct, that is, was made through Quotation system of KASE, which requires the confirmation of both buyer�s and seller�s applications satisfaction.
Previous number of deals (4 operations for $379,102.00) in this financial instrument were made by brokers of KASE on October 27 and 28, 1999 at $1.13-$1.14 per share.
During the whole history of KASE trades (from September of 1997) in PIS sector, including corporate securities, bigger operation with subsequent accounts settlement was made on December 25, 1998. The amount of the deal reached 509,021,153.10 tenges, which is $6,066,998.25 at current exchange rate. But this deal concerned selling of state owned block of JSC �BORLY� (Karagandy, trade code NZ_BORL) shares, and not regularly traded financial instrument.
ALMATY, Dec 20
/KASE, official press-release of the Exchange/
Kazakhstan stock exchange (KASE) informs that on December 24, 1999 in Trade system of KASE the auction will be held for initial offering of the bonds of local executive body of Almaty.
The emitter of these securities is local executive body of Almaty city of Kazakhstan. Financial consultant of the emitter � OJSC �DB SECURITIES (KAZAKHSTAN)� (Almaty). Legal appraisal of the bond issue was carried out by White & Case (Almaty). Financial agent of the emitter is KASE.
The bonds are allowed to circulate on KASE by the decision of KASE�s Board on December 19, 1999.
Issue, circulation and repayment procedures of the bonds are regulated by the document �Temporary procedures of issuing bonds of the local executive body of Almaty�, which was approved by the resolution #1437 of the government of Kazakhstan, dated September 22, 1999.
The securities being offered are discounted bonds without coupons, denominated in US dollars. Par value � 100 US dollars. Announced issue volume � 400 mln tenge. Circulation term � 1 year (364 days). Maturity date � December 25, 2000. KASE trade code � ALU012.001. National identification number (NIN) � KZ71K2512A00. All payments, related to acquiring and sale of the bonds, are made in tenge.
Applications for the auction will be submitted on December 24, 1999 in Trade system of KASE from 9:00AM till noon of Almaty time.
Applications can be submitted only by members of KASE of category �K� (right to participate in trades in state securities, which are allowed to circulate on the stock exchange). Investors may submit applications through their members.
Submitted applications, after a cut-off, are satisfied at prices indicated in each particular application. Only competitive applications can be accepted to the auction.
Payment date for the bonds purchased on the auction � December 27, 1999 till 11:00AM Almaty time. The payment is made in Kazakhstani tenges at official rate of the National Bank of Kazakhstan to US dollar set on December 24, 1999. Investors will pay for the bonds purchased on the auction through organizations, which have accounts in CJSC �Central depository of securities� (Almaty) and correspondent accounts in the National Bank of Kazakhstan.
The bonds are repaid by the emitter at par value in Kazakhstani tenges at official rate of the National Bank of Kazakhstan to US dollar, effective on the date prior to maturity day.
Following is the list of legal entities - members of KASE, who can participate in the auction, and through whom investors can submit their applications:
CJSC �KAZKOMMERTS-ZIRAAT-INTERNATIONAL BANK�; CJSC �CITIBANK KAZAKHSTAN�; OJSC �Halyk Bank Kazakhstan�; OJSC �Bank TuranAlem�; OJSC �TexaKaBank�; OJSC �TEMIRBANK�; OJSC Bank �CenterCredit�; CJSC �Affiliated joint stock bank �ABN AMRO BANK KAZAKHSTAN�; CJSC �Eximbank Kazakhstan�; CJSC �Evraziiskii bank�; JSCOT �Almaty merchant bank�; JSCOT �Joint stock bank LARIBA BANK�; OJSC �BANK �KASPIISKII�; OJSC �International bank - Alma-Ata�; OJSC �Kazakhskii aktsionernyi agropromyshlennyi bank�; OJSC �DB SECURITIES (KAZAKHSTAN); LLP �KBS Securities�; OJSC �Kazkommerts Securities�; CJSC �Company CAIFC�; OJSC �Kazakhstanskaya finansovaya komapnya�; OJSC �FINANSOVAYA KOMPANYA GREENWICH CAPITAL MANAGEMENT�; LLP �ATERA capital�; LLP �INVESTMENT MANAGEMENT GROUP�; LLP �Dom tsennykh bumag EASTBROKERS�; LLP �PETROKAZ CAPITAL�; CJSC �GLOBAL SECURITIES (KAZAKHSTAN)�; LLP �KIB ASSET MANAGEMENT Ltd�; LLP �Kompanya R.G.Securities�; CJSC �Fondovyi service�; Republican state enterprise of postal services under the Ministry of transportation and communication of Kazakhstan.
Until now, the National securities commission of Kazakhstan has not made a decision on the possibility of purchasing the bonds of local executive body of Almaty using the assets of accumulative pension funds. Additional information will be given on the decision of the commission.
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