AIX Traded Value
In April 2022, the AIX traded value was USD 21,599,206, having increased 2.8 times relative to the value of March this year. Market activity in April 2022 turned out to be slightly lower than in April last year when the traded value amounted to 22,910,467 US dollars.
Issuers, Brokers, Accounts
As of the end of April 2022, the official AIX list includes 126 listings of 84 different issuers, including 2 ETFs (Exchange Traded Funds) and 17 ETNs (Exchange Traded Notes). AIX trading members are 18 Kazakhstani and 12 international brokers. More than 306 thousand investor accounts are opened in the AIX CSD, and the number of accounts has increased significantly due to the opening of more than 128 thousand accounts by one Trading Participant.
As of the end of April, the total market capitalization of the companies listed on the AIX (Kazatomprom, Polymetal, Halyk Bank, Ferro-Alloy Resources Limited, Bank CenterCredit, Kaspi.kz) exceeds USD 24.9 billion.
In April 2022, Halyk Bank’s three-year bonds with a coupon rate of 2.5% for a total amount of USD 200 million were added to the official list of AIX. The issue of bonds of Kazakhstan’s banking sector leader is the first tranche of a 500 million US dollars bond program.
In April, the AIXQI fell by 7.4%, from 932.51 points to 863.49 points. In April, only 3 out of 9 companies ended the month on a positive note. The best growth for the month was shown by Kaspi.kz stocks, which grew by 22.4%. Drivers of the value growth of Kaspi.kz were positive results of the company’s business – adjusted net income for Q1 2022 reached KZT 117 bln, which is 49% more than for Q1 last year. In addition, Kaspi.kz reported that the company’s Board of Directors approved a USD 100 million GDR buyback program on the London Stock Exchange. Central Asia Metals shares grew slightly (+1.7%), and the increased demand for base metals positively affects the company’s long-term business prospects. Bank CenterCredit finished the month positively (+1.41%).
In April, the bank announced that it had reached a principal agreement with JSC Alfa-Bank on the sale of Subsidiary Bank Alfa-Bank Kazakhstan, according to which Bank CenterCredit will become the new single shareholder of Alfa-Bank Kazakhstan, buying 100% of common shares of a subsidiary of the Russian bank. Kazakhtelecom shares declined slightly (-0.64%). Shares of Halyk Bank finished the month with a decrease of -6.32%, the market reacted negatively to the news about the decision not to pay dividends for 2021 adopted at the meeting of shareholders. It should also be noted that in April, Halyk Bank bought a part of the portfolio of SB Sberbank of Russia JSC for KZT330 bn.
By the end of the month shares of Kcell fell by -17.64%, the Chairman of the Board of the company noted the difficulty of justifying such a reaction of the market due to the factors that potentially affect the value of shares of telecom-operator, among which may be attributed the fundamental macroeconomic indicators and geopolitical risks. According to the published financial statements for the 1Q 2022, the financial indicators are quite stable. The published statements of KazTransOil and the announced decision on dividend payment did not meet market expectations, by the end of the month shares of the oil pipeline company significantly declined (-21.13%). Increased geopolitical tension continues to put pressure on Polymetal shares, which lost 27.08% in value in April. The market also assesses the potential impact of anti-Russian sanctions on Kazatomprom, whose shares fell by -14.05% in April. The sanctions regime does not yet affect the uranium industry, however, Kazatomprom declared in an official statement that they are carefully assessing all the potential risks of the current situation. The company noted that it would make every effort to minimize risks and protect the interests of its shareholders.
AIXQI Index Committee met on 1st April for the regular quarterly index review. No addition nor deletion was made to the index. Regarding current market conditions and accessibility of Polymetal (POLY) shares, the Index Committee agreed to keep Polymetal in the AIXQI and not proceed with an extraordinary rebalancing of the Index.
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