Tashkent, Uzbekistan (UzDaily.com) -- After short period of time, when quotes at Uzbekistan Stock Exchange “Tashkent” fell on average by quarter a day and no deals at secondary market for foreign currency and large deals were registered, the stock exchange is restoring its usual trading activity. During the last week stocks of 30 issuers were traded. Trade turnover made US$3.35 million, 58% of which was repo deals and 1.63% of deals held at secondary market for foreign currency.

The deal on purchasing 13.43% of Malika attracted the highest attention. Last several deals on this security can be considered as merger deals due to the fact that investors acquired about 25% of this issuer. It can be supposed that investor is consolidating its share in the company. Stockholders of Malika are pleased by the fact that last trading sessions on these securities increased capitalization of the issuer by around 50% and at the moment it equals to $US6.3 million.

In the middle of the week repo deal on common stocks of Malika was held. Volume of the deal was 46,502 shares (about 62% of authorized capital). The turnover made more than US$1million. As a result the largest turnover of the week belongs to stocks of OJSC Malika. Total weekly turnover on this security made US$1.94 million, which takes more than half of total turnover of the stock exchange for the week.

The most active company of last five trading days was insurance company Kapital Sugurta (Capital Insurance). In 2008 securities of this issuer participated only in repo deals. In the beginning of the week investors purchased 3 million common stocks (7.50% of authorized capital) of IC Kapital sugurta on terms of a repo deal at the amount of US$478,000. As a result insurance sector took 14% of total market turnover of the week.

Banking sector took larger share than the insurance sector - the deals on banking shares made 23% of total trade turnover for the week. This was the result of major deals on acquisitions of common stocks of Trust Bank and a repo deal on common stocks of Galla Bank.

Uzbek ugol (Uzbek coal), 35.55% of which the State Property Committee intends to sell to strategic investor, rose by significant 19.78% during the last week. The price change during the last week was an unexpected one - acquisition of a large holding didn’t lead to a significant quote growth as it usually happens at UzSE. But on some securities this tradition persisted. Thus, while acquiring 13.43% of Malika, investors paid 50% premium, and in the deal on purchasing of 0.5% of Galla Bank investors paid 139% more than the price of last trading sessions.

In general, most securities went down during the week.

Last week price falls on common stocks of Uzpromventilyatsiya (Uzbek ventilation industry) were registered. The daily fall on average was 25-30%. Volume of the deal was 4-5 shares at most (the company has 260,000 issued shares). Uztransgaz (Uzbek gas transportation) occupied the second place in the rating of top losers. Price fall on these securities was 44%, but only preferred stocks went down.

Issuers whose stocks were traded with repo terms became leaders in the rating of most active. In particular, we can mention Kapital sugurta, Galla Bank and Malika. Both repo deals and deals on share acquisition were held on securities of the last two issuers. Total securities turnover of IC Kapital sugurta made about US$478,000 and on securities of Malika - US$1.94 million. The first place was occupied by the insurance company owing to low face value of its securities.

Last week was the week of repo deals. 58% of total trade turnover belongs to repo deals. First three places in the rating of most traded were issuers, stocks of which were traded in repo deals.

In general, there were positive changes at UzSE - trade turnover grew, investors became more active and shareholders began attracting capital using repo deals.

Source: Essential Investments (www.ei.uz)