AVESTA Overview: September 2 - 13
AVESTA Overview: September 2 - 13
Biweekly overview on Uzbekistan securities markets by Avesta Investment Group & Europe-Uzbekistan Association for Economic Cooperation
TASHKENT STOCK EXCHANGE
During the observed period, the volume of trade on the Tashkent Stock Exchange amounted to nearly 3.8bln UZS, marking a decrease of 2.4 times compared to the previous period. This decline in volume is primarily attributed to an M&A transaction with OCBK shares for 5bln UZS at 1,000 UZS per share, which represented over half of the trading volume in the previous period. This deal is likely linked to the Chairman of the Board, Mr. Tursunov Iskandar, increasing his equity stake in the company to 99.16%.
The total number of transactions amounted to 12,986, reflecting a decrease of 22.4% from the previous period. The total number of securities traded was 78, showing an increase of six from the previous period.
M&A-related transactions constituted approximately 48% of the turnover this period, with UZPN shares trading for 1.8bln UZS at 3,367.43 UZS per share and MATA shares for 85.5mln UZS at 17,000 UZS. URTS accounted for 10.5% of the total volume this time, with bonds being almost as actively traded as URTS, contributing 7.5% to the volume during the period.
Among the top 10 securities by volume, almost half maintained their closing prices. IPTB and UZTL prices experienced increases of 4.8% and 3.3%, respectively, while URTS (-5.6%), IFMT4 (-4.8%), UZMT (-4.3%), and BFMT3V2 (0.5%) saw declines in their closing prices.
AVEX increased by 4.4% during these 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
In 1H2024, average monthly mortgage payments rose by 16% up to 2.99mln UZS. 22% of the mortgage loans were issued to individuals with unofficial income sources;
Export of electrical products from Uzbekistan reached $1bln, taking second place among industrial goods after textiles;
Chinese Boi Yi Da to set up a copper processing plant for $40mln in the Namangan region;
Uzbekistan remains one of the biggest gold purchasers in the world for the second month in a row buying 9.6 tons in July;
Inflation in August reached 0.53% or 10.47% y-o-y;
EBRD to allocate $65mln for the construction of the green hydrogen plant. Production will consist of a 20 MW electrolysis and a greenfield 52 MW wind power plant;
Russian Inter RAO might participate in a coal power generation project in Uzbekistan;
Chirchik metal alloy plant was sold to the only bidder UET Construction LLC for 39.9bln UZS;
Navoi Uranium JSC accounted for 7% of world uranium production in 2023;
Uzbekistan received $12.5bln in loans, grants and technical assistance from ADB since 1995;
Kyrgyzstan and Uzbekistan to reopen Karasu border crossing after 14-year closure;
Almalyk Mining JSC (AGMK) exports decreased by 8.6% and reached $425.5mln, including 36,219 tons of copper (-4.0%) and 18,337 tons of zinc (-28.6%) products in 8M2024;
State debt exceeded $37bln in 1H2024 and made up 33.2% of GDP, most part of the funds went to support the state budget. External debt accounted for 83%, while internal debt stood at 17%;
Foreign reserves increased by 4.7% from $37.4bln to $39.2bln, including $1.2bln in gold;
OVERVIEWAria Sugurta Tashkiloti JSC (ARST) was included in the official Tashkent Stock Exchange listing from September 9th;
Uzelektroterm JSC (UZET, UZETP) was delisted from the Tashkent Stock Exchange from September 6th, 2024;
Uzvagontamir JSC (UVGT) was included in the official Tashkent Stock Exchange listing from September 6th.