Mysterious operation in the OTC market revealed

As Turan reported earlier, referring to BSE, in August on the OTC platform was the largest in the history of Azerbaijan's stock market transaction for buying and selling shares for a total amount of approximately 127 million manat. The depository with no obvious reasons did not record the operation in its report.

The fact of this operation is evidenced by the report of the State Committee for Securities. According to the SSC, in August in the secondary market there were transactions totaling 132.065 million manat. Part of that turnover accounted for exchange transactions: in just eight months of this year the stock exchange carried out operations on secondary trading of shares totaling 3,091,900 manat.

It should be noted that the information about the scale of the stock market is based on the registered data of registrars (professional participants of the securities market). The National Depository Center in its report for August noted that it registered 24 OTC transactions totaling 4,671,600 manat.

So where and how the operation with about 62 million shares was conducted remained a mystery. Finally, Turan determined that it is about 63,573,183 shares of state JSC Azerbaijan Railways. In LLC Tekhnika Capital Management they told the agency that they acted as underwriter for the placement of these shares with a closed method.

Meanwhile, the OTC market is growing rapidly. According to BSE, from August 15 to September 15, the turnover of securities on the OTC platform was 151,900,000 manat. The transactions regarded 67,385,700 shares. 08B

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