Following the decision of the NSEL Management Board, shares of Kalnapilis AB and Hansa-LTB AB were removed from the group of Unlisted securities to which central market procedures are applied, whereas shares of Grafobal Vilnius AB were shifted to this group from the Current List. As of October 1, 2002, shares of Vilniaus Vingis AB are admitted to the Baltic List, a list of the Baltic Stock Exchanges.
In September, Naftos Terminalas AB registered the reduction of the authorised capital to LTL 13.5 million, whereas Lietuvos Draudimas AB increased its authorised capital to LTL 23.1 million.
In September, trading at the Stock Exchange was considerably more active than in August. The number of transactions nearly tripled; share supply and demand increased, and their ratio lowered to 4.3. Trading in the Government securities as well as central market trading also were more active. On 19 September, following the set of agreements, Yukos Finance B.V. acquired a 26.85% stake of Ma²eikiu Nafta AB from Williams International Company through the block transaction and thus increased its share in the oil refinery to 53.7%. The transaction was worth LTL 266 million. Thus, in September the total NSEL turnover reached 361 million, and share turnover equalled LTL 281 million. It is the second largest monthly turnover in the history of the NSEL. Shares comprised 78% in the total monthly turnover. On the central market, the most active trading was carried out in shares of Lietuvos Telekomas AB (over 500 transactions with the total turnover of LTL 1.98 million), Vilniaus Vingis AB (LTL 1.36 million), and Dainiai AB (acquired own shares for LTL 1.2 million). In addition to Ma²eiki¯ Nafta AB, shares of Lietuvos Draudimas AB also were actively traded by block transactions (LTL 2.6 million).
The changing share price of Lietuvos Telekomas AB had a significant influence on the equity indices. In the opinion of market analysts, after the Governmentís announcement that shares of some companies will be given as compensations for the existing real property, it can be expected that in the near future the market will get a lot of free float and face a negative correction of share prices. This caused confusion among investors, and especially those who hold shares of Lietuvos Telekomas AB. Share supply of the telecommunications company increased, and the price began to fall. On 10 September, it fell below one Litas, and on 26 September the share price decreased to LTL 0.80. During the month, shares of Lietuvos Telekomas fell by 18.45%. Because of all this, in September the value of LITIN index fell by 8.3%, that of LITIN-G decreased by 1.5%. The increased prices of SnaigÎ AB, Vilniaus Vingis AB, Pieno fivaig²dÎs AB, and Ekranas AB contributed to a 2.7% rise of the LITIN-10 index.
The total nine-month turnover of the Stock Exchange was by 14% larger than in the corresponding period last year and reached LTL 1.45 billion. Just like in the previous year, shares accounted for 36%.
