Uzbekistan Stock Exchange “Tashkent”
Investors were relatively active for the last five trading days at Uzbekistan Stock Exchange “Tashkent” (UzSE). Several deals on purchasing of large stock holdings were registered, including deals on JSC Uzbektelekom, Uzbek coal and Uztransgas.
Total turnover for the last week made US$330,000. About 41% of total turnover belongs to repo deal on stocks of Chilonzor buyum bozori (Chilanzar clothing market) (14.5% of which belongs to JSCIB Ipoteka bank) and Foikon.
One of important events of the week was announcement by the UzSE “Tashkent” regarding entrance of Toshkent don mahsuloti (Tashkent grain-crop products) into official exchange listing under “B” category.
This is the first representative of food production sector in the listing. In the future we expect growth in turnover of its stocks.
Purchasing of several large stock holdings were registered during last five trading days, this contributed to relative growth of turnover. Among these deals were the purchase of 57% of Bulungurning mevasi (Bulungur’s fruits), 4% of Jizzakh don mahsulotlari (Jizzakh grain-crop products), 6% of Bukhoro energomarkaz (Bukhara power center) and Namangan agromash (Namangan agricultural machinery) and etc.
According to the results of the week the largest turnover belongs to “Uzkurilishashesavdo”. The volume of transactions on this issuer’s stocks was US$134,000, this is almost one third of total turnover for the week.
During the purchasing of blocking stock holding of Uzkurilishashesavdo, its stock price rose by 217%. It should be mentioned that during the week the most traded securities were in growth. As preferred stocks do not provide authority to vote, they have a low demand among local and foreign investors.
According to the results of last week, top gainers include preferred stocks of Uzbektelekom and Uztransgas. This is evidence of high demand for the securities of these issuers, which are justly considered as blue chips of the local market.
The price of a reverse repo deal on stocks of financial company Foikon was US$0.08. This is 80% less than that of the previous trade session. The securities of food producing enterprises mainly went down.
In particular, all types of Toshkent don mahsulotlari stocks and common stocks of Jizzakh don mahsulotlari. The securities of these enterprises fell by 25% each. Top five didn’t include preferred and common stocks of Kurgontepa don mahsulotlari, which fell in price by more than 0.5%. Also common stocks of Uztransgas experienced a fall of 25%. Preferred and common stocks of Toshkent don mahsulotlari lost 25% each as well. Totally more than 80% of issuers fell down.
The deal of the week: purchasing of 57% of Bulungurning mevasi can be considered as the most important deal of the week. As a result this issuer occupied third place in the rating of most active of last week. Also purchasing of 25% (i.e. blocking stock holding) of Uzkurilishashesavdo can be considered as an important transaction. It took a leading position in the table of the most active. Such order of the issuers in the table of most active can be explained by low face value of Uzkurilishashesavdo securities compared to stocks of Bulungurning savdo, this provided larger volume of securities in the deal.
Uzkurilishsavdo is at the head of most traded rating, turnover of stocks of this issuer made US$134. Top five of most traded is rounded up by Uzbektelekom and Uztransgas.
It should be mentioned that market participants saw common stocks of Uzbektelekom traded last week for the first time since the beginning of the year. For the period considered investors purchased 10,300 common and 3,000 preferred stocks of JSC Uzbektelekom, this is 0.04% of authorized capital of the company.
It should be mentioned that common stocks of Uzbektelekom fell in price by 4% and preferred stocks of the company rose by 99%. All securities of this issuer were purchased in the secondary market for national currency.
In general it can be said that UzSE “Tashkent” for the last week made several steps ahead in terms of development. As it was mentioned above, Toshkent don mahsulot entered official listing, several trades for significant stock holdings were made and figures show increased demand on capital attraction through repo deals.
Source: Essential Investments (www.ei.uz)