Essential Investments said: “Perhaps, the purchaser of this holding is Sorvinale Investments Corp., which announced an intention to acquire 25% of OJSC Malika at the end of the last month. The deal price was US$26.88 per stock.”

This price is 23 times higher than the price at previous trading session. As a result capitalization of the issuer reached US$4.8 million (to compare the capitalization of Trust Bank for the moment is US$3.52 million and the capitalization of UzKDB - US$3.38 million). This shows growing interest of investors in this enterprise. According to opinion of Essential Investments’ analysts, in the future quotes of common stocks of OJSC Malika will fall to average level (US$2-US$2.5 per stock).

Not every company showed growth: according to the results of trading day every third stock went up. The significant growth of common stocks of Malika was registered at the primary market, and common stocks of Uzbektelecom (growth was 173.6%) and Bekabadcement rose in price at the secondary market for foreign currency. Foreign investors acquired 2.03% of cement plant Bekabadcement (54.5% is owned by Kaden Invest Limited).

Securities of banks, food producers and subsidiary companies of SJSRC Uzbekistan Temir Yullari went down. Among bank securities the worst result was shown by preferred stocks - the fall was 19.83% in average. Preferred stocks of Galla Bank was an exclusion, their fall was not so significant (-0.54%). Both common and preferred stocks of OJSC Matlubotchi fell down as well. Temiryulbunyodkor (Railway builder) (which is a subsidiary of Uzbekistan Temir Yullari) fell in price by 13.84%.

On the reporting day, the deal on purchasing common stocks of UzEX (Uzbek Republican Commodity Exchange) was registered during the trading session. The deal price was US$0.26 per stock. Investors acquired 8,891 common stocks, or 0.04% of authorized capital of this issuer.

Due to purchasing of 25% of Malika, the share of textile sector reached 95.90% of total turnover. Despite the fact that banking stocks turnover made over US$4,000, the share of banking sector didn’t exceed 0.50% of total market turnover.

The deal on purchasing of 2% of Bekabadcement (construction materials sector) made only 1.02% of total market turnover.

Source: Essential Investments