JULY 3-14, 2023: Markets Overview
Avesta Investment Group presents the bi-weekly overview of Uzbekistan's financial market.
TASHKENT STOCK EXCHANGE
The trading volume of the RSE Toshkent for the given period amounted to over 3.8 billion UZS, which is 25 times less than the volume of the last two weeks of June. However, in terms of the number of transactions, activity on the stock exchange increased by 1.7 times, totaling 17,313 transactions. Overall, 76 (+2) types of securities were traded this week, with the top 10 accounting for 86.8% of the stock exchange's total turnover.
The largest transaction, representing 33% of the total turnover, was registered with UZMK at a closing price of 8,630 UZS, amounting to approximately 1.3 billion UZS. The next largest transaction involved URTS, which had a closing price of 19,101 UZS and accounted for approximately 637 million UZS, representing 16.6% of the total turnover. Following these, there was relatively active trading with IFMT3 and UZMT.
FINANCIAL NEWS
OVERVIEW
OTP Bank Nyrt published the offer to all minority shareholders of Ipotekabank JSCMB (IPTB) to purchase ordinary shares at 0.94 UZS per share and 4.02 UZS per preferred share.
Local private company MR Construction & Engeneering Group LLC won the tender and signed a 2.15trln UZS (approx. $194mln) contract with Almalyk Mining JSC (AGMK) for transportation of 95mln cubic m of rock mass from Yoshlik-I deposit in 2023-2029 years.
Konvin JSC is reorganizing into an LLC and announced the possible purchase of shares from minorities at 8,500 UZS per share.
Quvasoycement JSC (KSCM) didn't approve the distribution of 2022FY profits and dividends payments. All retained profits are kept until the next EGM to be distributed. At the same time, the company approved the increase of the number of possible for a placement shares by 160,000,000 ordinary and 260,000 preferred, or by 317.2 times. The company could submit these shares for registration in the MoEF anytime according to the decision of the Supervisory Board or EGM).
UzAgroleasing JSC (UZAL) registered the private placement of shares for 316bln UZS (x3 to current 105bln UZS). Recently government instructed the company to convert the loans from MoEF into shares of the company.
UzMetKombinat JSC (UZMK) obtained the license for the construction and installation of cranes, elevators, and other structures. Most likely this was necessary for the casting and rolling complex construction process.
KDB Bank Uzbekistan JSCB placed another interbank deposit with JP MORGAN CHASE BANK N.A. for 1.37trln UZS (approx. $119mln);
Mr.Sergey Gimadiyev, former CEO of Apelsin Bank, replaced Mr.Umidjon Khakimov as CEO of Asia Alliance Bank JSCB;
Recently bankrupted Hi-Tech Bank JSCB is selling its headquarters in the central part of Tashkent for 25.3bln UZS (1,251 sqm) or approximately 20mln UZS per sqm ($1,731);
DIVIDENDS
UTYK to pay 40,100 UZS per share.
BIOK to pay 2,550 UZS per share.
Despite the fact that the Supervisory Board of Toshkentvino JSC recommended paying 2,095 UZS dividends per share, the announced decision indicates only 1,047 UZS.
IPTB not paying any dividends on ordinary shares and is to pay 0.25 UZS per preferred share.
UZAS not paying any dividends on ordinary shares and is to pay 820 UZS per preferred share.
Toshkent Mexanika Zavodi JSC to pay 159.28 UZS per share.
Nokis Vinozavodi JCS, privatized in January 2022 at 9,805 UZS per share announced the dividends for 2022FY at 9,683.4 UZS per ordinary and 1,042.5 UZS per preferred share.
Avesta Investment Group is a leading investment banking, securities, and investment management firm in Uzbekistan, with operations in all Central Asian countries.