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During 2010 the Panama Stock Exchange (BVP) total trading volume
was U.S. $ 2,639,1 million, an increase of 61.35% compared to U.S. $ 1,635,6 million traded in 2009.
The amount traded in 2010 was the highest trading volume in the BVP 20 years life.
The trading volume expansion during 2010 was due to an 82.68% increase in the primary market volume. This was due to the renewal of the Republic of Panama’s Treasury Note Programme, the placement of corporate bonds, preferred shares and investment companies and an increase of the Securities Trade Negotiable. The secondary market also recorded a trading volume increase of 61.6% over the previous year however, buybacks experienced a trading volume reduction of 42%.
The largest trading volume was in government securities, with 36%. Corporate bonds accounting for 31% of the trading volume.
The primary market not only had the highest expansion in 2010 but also accounted for most of the BVP trading volume with 80.8% of the total. The secondary the market was13.9% and Repurchase 5.3% of the 2010 trading volume.
New Corporate Issues
In 2010 new corporate issues registered as initial public offerings (IPO's) reached a total of U.S. $ 2.117 million, an increase of 377.6% from U.S. $ 561 million registered in 2009. This increase was the effect of the registration of U.S.$ 300 million of national bonds by the Panama National bank, $ 150 million in bonds by Global Bank Corporation, $ 100 million bonds by Cable Onda and the Décimo Fideicomiso de Bonos de Préstamos Hipotecarios and U.S. $ 1.000 million by Tagua Society Fund, Inc.
In 2010 the number of registered issues were 24 (21 in 2009) of which 17 were Bonds, Corporate Bonds, Rotary Bonds and Loans.
Stock Market
The stock index posted a positive return, continuing the positive trend observed since the first quarter of 2010. The index rose from 228.05 points in December 2009 to 261.68 points in December 2010, giving a yield of 14.75%
The number of shares traded during 2010 stood at 2.5 million compared with 1.3 million traded in 2009, an increase of 85%. The amount of stock transactions was U.S. $ 68 MM, an increase of 110.5% if compared to U.S. $ 32.3 MM negotiated during the same period in 2009.
BVPSI Evolution Year: 2010
The market capitalization of the 22 companies that make up the BVP stock market amounted to U.S. $ 8.348 million, 3.73% higher than the capitalization recorded in December 2009. This increase was due to price increases in some shares and an increase movement of shares in some companies even though the number of listed companies remained the same. In 2010, BVP ceased trading in Banagrícola’s shares but started trading in Amiworld Inc. ‘s shares.
The number of companies registered in 2010 was 110.
