The trading volume of the Kyrgyz stock exchange in 2008 reached 4 billion 183,78 million soms
Jan 20, 2009
Aybek Tolubaev, the president of Kyrgyz Stock Exchange declared during the press conference that the trading volume the Kyrgyz stock exchange in 2008 reached 4 billion 183,78 million soms. In comparison to 2007 the trading volume index decreased by 1 billion 4,79 million soms, which equals to 19,37 %. Market capitalization was also reduced. The decrease constituted 1 billion 167,54 million soms- 24%. As Aybek Tolubaev noted, the capitalization grew up until November of 2008 due to listing of five new companies. However in December four joint-stock companies have left and it has affected the indicators to a great extent.
Kant cement factory has had the greatest volume of trades –in the amount of 1,5 billion soms. 90% of shares were bought by the company registered on Cyprus.
Settlement-Savings Company (RSK-Bank) has issued 308 billion 798 million soms worth of shares, the largest issue on the platform. ATF Bank has issued shares worth 200 billion soms, Ayil Bank- 180 billion soms, Eko Bank-113 billion 623 million soms, Kazkommertsbank- 55 billion 432 million soms. Open joint stock company Kyrgyz-Too-Tash 32 billion 670 million 25 thousand soms, Kyrgyzpromstroibank- 9 billion 570,5 million soms, and Open joint stock company Ak-Zhol - 4 billion soms.
Total volume of trades with the securities of listed companies amounted to 596,28 million soms. In comparison with 2007 this figure was reduced by 392,1 million soms. The volume of operations with securities of the companies which have not undergone the listing procedure has made 3 billion 485,49 million soms. It was reduced in comparison to 2007 by 713,38 million soms.
Nurbek Elebaev, the chairman of Kyrgyz Stock Exchange has noted that the world financial crisis has greatly affected the stock market and banking system. Besides, the influence was made by the “aggravation of competition in the domestic market”, N. Elebaev states.
He notes that experts in Kyrgyz Stock Exchange predict decrease in the trading volume to 4 billion soms in 2009. “These figures might be even lower. In general, the volume of operations tends to shrink. The reason is the influence of the global financial crisis. Western exchanges experienced a 80% drop in trading volumes. As there is no direct influence on us, this drop is not as drastic here”, Nurbek Elebaev notes.
