Uzbekistan Stock Exchange (UzSE) “Tashkent”
Tashkent (UzDaily.com/Essential Investments) -- On 22 October, the secondary market was active at the Uzbekistan Stock Exchange (UzSE) “Tashkent”. There were 40 deals registered involving stocks of 9 issuers. During the day investors purchased major stock holdings of three issuers.
The purchase of the day was acquisition of 15.36% of Uzshaharsozlik LITI stocks (Project Institute of urban planning), 32.8% of which owned by British company MS INTERTRADE LLP. The deal price was US$0.22 a share. This price is 24.98% less than the previous trade session on these stocks. Last time these securities were traded at UzSE “Tashkent” last February. Then foreign investor purchased about 1.5 million stocks (about 13% of authorized capital of the company) at a price of US$0.29 per stock. The price fall on these stocks caused capitalization of Uzshaharsozlik LITI to go down to US$2.3 million.
Also investors purchased 4,000 stocks (14.31% of authorized capital) of Chimyon MTF (34% is owned by OJSC Fargona viloyat MTF birlashmasi (Association of Machine and tractor fleet of Fergana region)) in the secondary market for foreign currency. Lately growing interest of investors in MTF’s (Mashine and tractor fleets) has been observed.
Thus, yesterday investors purchased 30% of authorized capital of Chust tumani MTF. During last week investors announced an intention to purchase stock holdings of MTFs, in particular CENTURY IMPEX CORP showed an intention to purchase 31.5% of stock holding (i.e. blocking stock) of Ok oltin tumani MTF.
The securities of oil and gas companies were traded at the secondary market for foreign currency. Thus, 3.51% of authorized capital of Mubarek neftegazmontaj (Mubarek oil and gas installation) was purchased at a price of US$12 per stock.
The share prices of five out of nine companies went down. The largest price fall belongs to common stocks of Toshneftegazkurilish (53.28% are owned by JSC Uz oil and gas construction investment) - price drop constituted 25.91%. List of securities in red includes common stocks of Uzshaharsozlik LITI (the fall was 24.98%), preferred stocks of Uzneftegazkazibchikarish”(Uz oil and gas production) (the fall was 25.7%), common stocks of Chimyon MTF and others.
Almost 50% of issuers on the reporting day are representatives of oil and gas sector. All the deals in the secondary market for foreign currency were held on stocks of oil and gas companies. The share of this sector in total turnover was only 15%. The largest deal was purchasing of 15.36% of stocks of Uzshaharsozlik LITI at amount of US$363,100 and made 81.92% of total turnover. This explains the reason of such a low share of oil and gas sector in the total turnover.
Source: Essential Investments (www.ei.uz)