Turnover of corporate securities increased by 24%

Baku/25.11.13/Turan : The securities market in Azerbaijan , despite the 24 % increase in the corporate segment , showed a 29 % reduction for the 10 months of this year. This is due to a sharp reduction in the turnover of government securities.

According to the State Committee for Securities , the market turnover for the first ten months of this year amounted to 6.1 billion manat, which is 29 % less than in the comparable period last year. The reason for the collapse - reduction in repo and counter- repo operations on the notes of the Central Bank from 6.6 billion to 4.4 billion manat. Total volume of transactions in government securities by 584 equaled 4,795 million manat, which is 37 % less than in January-October 2012 .

Since the beginning of the year on shares and corporate bonds were concluded 3970 transactions that 5.2% more than 10 months of last year . Turnover on them is 1 322 million manats. This is 24 % more than for the same period in 2012 . Stock market turnover amounted to 487.9 million manat, increasing by 16%. Secondary market shares by closed subscription and opaque OTC transactions increased 2.4 times.

During the reporting period the volume of initial public offering ( of 295 transactions) amounted to 352 million manat, which is 3 % less than in January- October 2012.

The volume of corporate bond market amounted to 834.2 million manat. This is 29% more than the same period last year. And the secondary bond turnover (556.6 million AZN) increased 81.7 %. - 08D-