Volume of operations on corporate securities grows in Azerbaijan
BAKU, Azerbaijan, Dec. 9
By Eldar Janashvili - Trend:
From January through November 2019, the total volume of transactions on corporate securities at the Baku Stock Exchange (BSE) amounted to 941.9 million manat ($555 million), Trend reports referring to BSE.
For the same period of 2018, the volume of transactions on corporate securities amounted to 749.3 million manat ($441.6 million). As a result, the growth of the total volume of transactions in the first 11 months this year amounted to 25.6 percent.
Among the operations, 58 transactions worth 166.6 million manat ($98.1 million) were conducted in the primary market, which is twice less than in the period from January through November 2018. Some 25 transactions of this volume were conducted on mortgage bonds for a total of 151 million manat ($88.9 million, or a decrease of 24.7 percent).
In the primary market from January through November 2019, two shares were sold for a total of 300,000 manat ($176,834), while in 2018, 67 shares worth 99.8 million manat ($58.8 million) were sold in the primary market in the same period of 2018.
The secondary market accounted for 2,280 transactions with a total of 775.2 million manat ($456.9 million). Their specific weight was 82 percent of the total amount and 97.5 percent of the total number of transactions on corporate securities. Also, 1,784 shares worth 2.5 million manat ($1.4 million) were sold in the secondary market, which is almost 17 times less than in the period from January through November 2018.
Repo (repurchase) transactions on corporate securities amounted to 6.9 million manat ($4.1 million, or an increase of almost 277 times). A total of 16 repo transactions were carried out at the Baku Stock Exchange in the period from January through November 2019. This is almost three times less than in the first 11 months of the previous year.
($1= 1.7 manat on Dec. 9)