BAKU, Azerbaijan, Apr. 15
By Zeyni Jafarov - Trend:
The total volume of securities transactions at the Baku Stock Exchange (BSE) amounted to over 4.25 billion manat in the first quarter of 2021, the BSE told Trend.
Some 72 percent of the total volume fell on government securities, 24.8 percent - repo transactions, and corporate securities - 3.2 percent.
As reported, 5 percent of the corporate securities market fell on shares, and the remaining 95 percent - on transactions in bonds.
“From January through March 2021, the total trade turnover in the specified market increased compared to the same period of 2020. In particular, there is an activity in transactions in the primary market of government and corporate securities,” the stock exchange noted.
Along with this, the report emphasized that over the past quarter of 2021, in order to ensure the sustainable development of the Baku Stock Exchange, based on the decision of an extraordinary meeting of shareholders, the par value of BSE shares was increased from 200 to 800 manat ($117.6 to $470.5) due to retained earnings, and the authorized capital of the exchange increased from 1.26 million manat ($741,000) to 5 million manat ($2.94 million).
As earlier reported, in 2020, for the first time in the Azerbaijani capital market, the issuance of five-year government bonds began. During this year, the total value of these securities exceeded 22.6 million manat ($13.3 million).
The capitalization of the BSE as of the last trading day in March 2021 amounted to 4.16 billion manat ($2.44 billion), having increased by 7 percent since the beginning of the year.
Last year, the Central Bank of Azerbaijan, taking into account the recommendations of the International Organization of Securities Commissions (IOSCO), which sets international standards in the securities market, to reduce the impact of the current COVID-related situation on capital market intermediaries, issuers and investors and create additional incentives, presented an action plan thereby providing market participants with regulatory holidays.
(1 USD = 1.7 AZN on Apr.15)
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