Baku, Azerbaijan, April 8
By Fakhri Vakilov – Trend:
The financial sector of Uzbekistan has reduced its activity in the stock market in March 2019, Trend reports via Uzbek media.
A survey prepared by financial analysts of Portfolio Investments LLC, Valentina Emelyanova and Alisher Samatov shows that Uzbek commercial banks still remain key players in the country's capital market despite the decrease in activity.
In total, 11,327 transactions for a total of 38.18 billion soums were cumulatively held in exchange and over-the-counter trading in the first quarter of 2019.
Analysts state that 2,600 transactions in shares of 59 listed joint-stock companies were carried out in exchange trading in March. “Top-Ten” of exchange transactions in Uzbekistan in the context of sectors remained unchanged, with the exception of the financial sector, which extremely reduced its activity in the past month.
The dominant role during this period was played by transactions with securities of Ravnaq-bank for a total of 12.1 billion soums and Universal Bank for a total of 9 billion soums. As noted in the review, these banks issued securities to increase the share capital to 100 billion soums.
The largest number of deals in March was made in the construction industry thanks to the Qizilqumsement JSC, whose interest in securities does not subside due to excellent indicators in the published reports for the fourth quarter of 2018.
In terms of the number of transactions in March, Qizilqumsement JSC leads with 796 transactions which is 30, 62 percent of the total amount of transactions. It followed by Qo'qon mexanika zavodi JSC (501 transactions) and JSC Kvarts (316 transactions) which constitute 19.27 percent and 12.15 percent of the total number of exchange transactions, respectively.
Furthermore, analysts note that the involvement of joint-stock companies in the top-10 by the number of transactions made in March does not exceed 1 percent of their authorized capital.
Two mergers and acquisitions took place in March of the current year according to the analytical review. Swiss Capital International Group AG acquired a 35 percent stake in JSCB Invest Invest Bank (InFinBank) through an over-the-counter transaction. After completing the transaction, the new owner obtained 140,000,000 shares.
Moreover, Basic Capital LLC received 213,305 shares of Uchqo'rg'on-yog JSC on the basis of an agreement on the placement of securities in the authorized capital. After the conclusion of the transaction, Basic Capital LLC became the owner of 31.8 percent of ordinary shares of Uchqo'rg'on-yog JSC.
($1-8413.50 soums on April 8)
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