On 26 June 2002, the State Property Fund and the consortium of Ruhrgas AG and E.ON. Energie AG companies signed an agreement regarding the sale of a 34% stake of Lietuvos Dujos shares. The investor paid LTL 116 million and transferred LTL 34 million to the provisional deposit account. A tender for gas supplier regarding acquisition of another 34% stake of Lietuvos Dujos shares was announced.
In June, the turnover was similar to the ones in the month of July during the last three years and reached LTL 119.2 million. This is by 7.5% less than the securities' turnover in May and outpaces only the turnover of February 2002. Even though the central T-bills turnover increased fourfold, share trading was more active than in debt securities. The demand, which rose almost by the third, lowered the share supply-demand ration to 4.4. The demand of 32 issues out of 52 share issues, traded on the central market, exceeded the supply. The number of the share transactions fell twofold, however the average value of the transaction increased from LTL 3.4thou to LTL 14.5thou. Because of this reason, the share turnover improved almost twofold in comparison with the one in May and reached LTL 28.6 million, constituting 24% of the total turnover (10.6% in May).
Central market share turnover augmented twofold and exceeded LTL 12 million. Similarly to the same months of last year, it constituted 40% of the total share turnover. Central market share turnover exceeded that of block transactions in 14 trading sessions out of 20. Privatisation transactions comprised 27% of share block transactions. A block of shares of 3.24% of a state owned company Lisco Baltic Service was successfully sold for LTL 4.413 million after the State Property Fund reduced the share price from LTL 0.50 to LTL 0.41. As last month, the bulk of the trading fell to shares of Vilniaus Vingis and SnaigÎ. Shares of these profitable companies appreciated by 16% and 10% during the month, and by 57% and 35% from the year start, respectively.
The USD exchange rate decline had a negative effect on the share price and turnover of Lietuvos Telekomas since the GDRs of the company are traded in USD in London Stock Exchange. During the month, the price of the company fell almost by 9% to LTL 1.12. The decline in the share price of the company with the biggest weight in LITIN index weakened the Official List index by 4%. LITIN-10 index, which represents the most actively traded 10 companies and which is the most sensitive to the price changes, moved up by 4.3%. The growth in the demand for shares as well as the LITIN-10 trend allows forecasting the improvement of the investment activity in the market.
