The total AIX traded value in January 2022 was USD 11,517,212, decreasing by 17.28% compared to the previous month. The indicator exceeded the traded value for January last year by USD 435,000.
Issuers, Brokers, Accounts
In January, bonds of JSC Pavlodarenergo for KZT 75 billion were included in the AIX official list. Pavlodarenergo is a vertically integrated company that performs energy supply to the Pavlodar region including generation, transportation, and sales of energy resources. The debt capital raised by the issuer will be used for early repayment of the existing loan taken from the VTB group to acquire a controlling stake in CAPEC Green Energy LLP, as well as for the purchase of the remaining stake of CAPEC Green Energy LLP from the existing shareholders. As of January 2021, the total market capitalization of companies listed on AIX (Kazatomprom, Polymetal, Halyk Bank, Ferro-Alloy Resources Limited, Bank CenterCredit, Kaspi.kz, Kcell) exceeds USD 34.6 billion.
In January, the AIXQI value decreased by 13.17% from 1,104.04 points to 958,66 points. The vast majority of index companies ended the month lower amid a global downturn in the stock markets (the fall of the Nasdaq in January is the largest since 2008, while the S&P 500 — since 2009), as well as pressure on domestic companies stocks was exerted by the tragic events of January, as a result of which investors were inclined to sell shares of Kazakh companies.
Securities of Kazakhstan companies traded on the London Stock Exchange were more negatively affected. The largest decrease was demonstrated in January by Kaspi.kz (-26.77%), Halyk Bank (-21.63%) and Kazatomprom (-14.89%). Share prices of metallurgical companies also showed negative dynamics. Polymetal declined by 19.75% amid the company’s reports about the expected increase in its costs: capital expenditures in 2022 will amount to approximately USD 700 million, which is USD 90 million more than the previous forecast. Polymetal also expects its cash costs to grow by about 20% in 2022 and amount to USD 850-900 per ounce of gold equivalent. Central Asia Metals dropped 14.97% despite the CEO’s January 7 statement that the January events in Kazakhstan did not affect the company’s operations.
KazTransOil, Bank CenterCredit and Kazakhtelecom shares were the least volatile during January – KTO and BCC shares grew by 1.27% and 0.63% respectively, while Kazakhtelecom declined by 1.12%.
In January, Kcell shares were included in the AIXQI index. The mobile operator closed its debut month in the index with a 4.77% increase. The company reported a significant increase in voice and SMS traffic because of disruptions to Internet access during the January events. The average daily voice traffic of the company’s subscribers from January 5 to 10 increased 75% against December 2021. The peak for the service of outgoing SMS was reached from January 8 to 9, amounting to more than 3.6 million SMS per hour, which is 116 times higher than the average for a normal day.
Market Review | January 2022 | Download
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