AVESTA Overview: May 23 - June 6
Biweekly overview on Uzbekistan securities markets by Avesta Investment Group & Europe-Uzbekistan Association for Economic Cooperation
TASHKENT STOCK EXCHANGE
Trading volume on the Tashkent Stock Exchange totaled 1.33trln UZS these last two weeks — significantly higher than average due to the presence of 1.25trln UZS worth of transactions from Agrobank, 91.65% of total transaction turnover.
Agrobank’s transactions represent their sale of newly the MoEF. The next top four transactions were for bonds: Makesense (UZUMN2B) held 100bln UZS in trading volume, followed by Agat Credit (ACMT1B) at 7.16bln UZS. The final bonds on the top 10 were Delta MMT (DMMT2B) at 2.95bln UZS and Biznes Finans Bonds (BFMT3V3) at 1.50bln. Bonds made up 8% of total turnover.
Although Bonds made up four out of five of the top trades, trading volume was dominated by the M&A between Agrobank and the MoEF, making up 91.52% of total turnover in the last two weeks.
Some price dynamics were volatile. Major shifts were observed in top-traded bonds with UZUMN2B falling 4.49%, while others moved between 1-2%. Uzbek Commodity Exchange had a notable growth of 8.36%.
AVEX decreased 0.18% over the two weeks.
AVESTA EQUITY INDEX
*The AVEX index describes the general market trend by covering the top 20 listed companies, in a particular quarter, with the highest liquidity and transaction turnovers on the Tashkent Stock Exchange. The index is a sum of the daily stock prices multiplied by the weighted average coefficients given to selected companies. The base date is 01/01/2021 (1000).
Turnover breakdown
FINANCIAL NEWS
ECONOMICS
EBRD to allocate $25mln to SQB JSCB (SQBN) under the YiB program to support MSMEs led by young entrepreneurs;
The number of Indian students receiving affordable, quality medical education in Uzbekistan grew from 3,500 to 10,000.
Monthly green electricity generation exceeded 1bln kW a month and reached a record 17% of total electricity production, has helped to save over 335 million cubic meters of natural gas.
Uzmetkombinat JSC (UZMK) entered into an €11.7mln loan agreement with National Bank of Uzbekistan (NBU) for 12 months;
Agrobank JSCB (AGBA) sold 1.25trln UZS of newly issued shares to the Ministry of Economy and Finance, its majority shareholder.
Passenger throughput at Tashkent International Airport has surged past 8.7 million, leading to plans to strengthen aviation ties within Central Asia.
Milliy Banklararo Protsessing Markazi JSC (HUMO) adds "HUMOTECH" LLC to its list of affiliated parties, a wholly owned subsidiary;
Uzbekistan is leading regional connectivity to major projects as Trans-Afghan Railway, Multimodal Transport Corridor, Termez Free Trade Zone and energy projects, aiming to build Central-South Asia connections, through India engagement.