Uzbek stock market turnover decreases by 4.6 percent
Uzbekistan, Tashkent, March 1 / Trend D. Azizov /
The trade turnover on the Uzbek stock market has fallenby 4.6 percent to 1.604 trillion soums in 2011 compared to 2010, the State Property Committee said.
The securities worth 692.5 billion soums were placed in the primary market last year, or 1.6 times less compared to 2010, the turnover of the secondary market increased by 55 percent - to 911 billion soums.
The trade turnover in the stock market increased by 1.6 percent - up 1.501 trillion soums in 2011, including the placement of shares in the primary market amounted to 634.8 billion soums (decreased by 46 percent), secondary market turnover increased by 58 percent - to 866.2 billion soums.
The corporate bond market last year decreased by 1.98 times - up to
102.6 billion soums. The turnover in the secondary market increased by
6.7 times - up to 44.8 billion soums.
The experts of the Uzbek analytical company Avesta Investment Group said that the reduction of trade turnover in the primary market is connected with tightening of the minimum requirements for the authorized capital amount.
The Uzbek President signed a decree in November 2008. According to the decree, the minimum authorized capital for the open and closed joint-stock companies is set at $400,000 at the rate of the Central Bank on the date of registration.
Earlier, the minimum authorized capital for all joint-stock companies was set at $50,000.
As of early 2012, there were 7.577 billion shares of 1,306 companies to the amount of 7.685 trillion soums in the Uzbek State Central Securities Depository.