The National Stock Exchange Of Lithuania Celebrates Its 10th Anniversary

On 14 September 2003, the National Stock Exchange of Lithuania (NSEL) marks its 10th anniversary. The first trading session was open for 22 securities of 19 issuers, and a total of 19 financial brokerage firms were registered to trade. During those years, there was a gradual change from a single trading session per week to daily securities trading, Official and Current Lists were formed among which there were transport, telecommunications, energy, and beverages companies. The year 1996 saw a launch of calculation and publication of share price indices. Moreover, since then all market participants have a prompt access to material information on the market and companies listed on the Exchange. The NSEL information is distributed by well-known international and Lithuanian information agencies. The NSEL is a correspondent member of the World Federation of Exchanges, and from November 2002, the NSEL received an associate membership status at the Federation of European Exchanges.

"International recognition of our Exchange means that we have gone a long and difficult way creating a sound, safe and securities' transparent trading system", said Rimantas Busila, the NSEL president.

In 1998, the NSEL obtained the status of a public company. Now its share capital amounts to LTL 3.69 m (Euro 1.07 m), and major shareholders are the Ministry of Finance (44.3%) and financial brokerage firms and banks (28.1%).

In 10 years of trading on the NSEL securities were sold/bought in a total of 343 thousand transactions for an aggregate of LTL 13 bn (Euro 3.77 bn). The exchange membership was enjoyed by a total of 86 financial brokerage firms and banks. During those ten years, the NSEL's capitalisation went up from LTL 70 m (Euro 20.27 m) to LTL 18 bn (Euro 5.21 bn) (by 256 times). An unprecedented annual turnover was recorded in 1999 - LTL 2.3 bn (Euro 0.67 bn). Last year, the total NSEL's turnover exceeded LTL 2 bn (Euro 0.58 bn) once again. Recently share trading on the central market has been clearly vitalised, which shows an increase of investors' interest in the securities of the Lithuanian companies. From the beginning of 2003, the NSEL indices showed an impressive increase (LITIN - 74.69%, LITIN-G - 110.95%, LITIN-10 - 88.60%), meaning a double increase in the capital invested into shares in the beginning of the year.

Currently shares of 45 companies and 36 issues Government securities traded at the NSEL. During eight months of 2003, the total NSEL turnover stood at LTL 1.31bn (Euro 0.38 bn). The total market capitalisation as of 10 September 2002 comprised LTL 18.18 bn (Euro 5.27 bn).