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There were no new entrants on the WSE Main List in January, but the early days of the year brought very good news on the WSE primary market.
In early January, the international consulting company PricewaterhouseCoopers published statistics on stock market listings in Europe in 2007. Among regulated markets, the WSE with 81 new listings ranked number two in Europe, second only to the London Stock Exchange with its 99 new listings. The third position in Europe went to NYSE-Euronext with 40 new listings in 2007, half the number of entrants on the WSE Main List.
Exchange Members
In January, the WSE summarised the activity of foreign brokers (Remote Members) on the WSE in 2007. The value of trading by foreign brokers was PLN 23.5 billion in 2007, up by a factor of 3 year on year. The value of trading by foreign brokers represented around 5 percent of the total trading in stocks generated on the WSE in 2007.
Other Events
The WSE cancelled the fees for issuers of structured certificates and option warrants between 1 January and 30 June 2008. The reduction should encourage issuers to list such products on the WSE.
The 16th edition of IPO Days was held on 10 January. The goal of the project is to introduce prospective issuers to investors, analysts and the media. The January edition featured the following 3 companies:- IIF S.A.
- EMU Sp. z o.o.
- EKO Holding Sp. z o.o.
On 15 January, the year’s first training session on structured products was held at the WSE headquarters. The meeting attracted a large audience. As a result, another training session was held two weeks later, on 29 January, also attracting more participants than expected.
The trading session of 16 January recorded the highest ever volume of trading in single-stock futures (4,418 contracts) and the highest number of WIG20 index futures (90,255 contracts).
16 January 2008 was the tenth anniversary of WIG20 index futures on the WSE. It was the first derivative instrument traded on the WSE. Now, in addition to WIG20 contracts, WSE investors can also trade in mWIG40 and TechWIG index contracts, single-stock contracts, exchange rate contracts (US$/PLN and EUR/PLN), WIG20 options and WIG index participation units. At the end of 2007, a total of 14 classes and 137 series of derivative instruments were traded on the WSE.
The trading session of 22 January recorded the highest ever volume of trading in futures contracts. The volume of trading at 106,466 contracts crossed the mark of 100 thousand contracts per session for the first time in history.
On 21 January, the sale of UniCredit Group emerging markets structured certificates started in brokerage houses across Poland to continue until 8 February 2008. A large-scale promotion campaign has been launched. The certificates “Poland”, “Russia”, “Bulgaria”, “Kazakhstan”, “Serbia”, “Romania” and “Ukraine” will begin trading on the WSE on 13 February 2008. As the subscription for UniCredit certificates started, the media reported broadly on these new products which significantly extend the range of investment vehicles available on the WSE.
On 23 January, the WSE Trading Floor was a venue to a meeting with companies regarding the practical aspects of implementating the “Code of Best Practice for WSE Listed Companies”. The event was a continuation of the December meeting.
On 30 January, the WSE headquarters hosted a press conference, attended by UniCredit Group analysts, on structured certificates markets to be launched on the WSE on 13 February. The meeting attracted much interest of the media and brokerage houses.
The value of trading in structured products in January was the highest in WSE history. The value was PLN 9.8 million, or 8.5% more than the November 2007 record figure. The number of transactions in structured products was also record high in the history of the WSE (606 transactions, or ca. 174% more than in November 2007).
On 31 January–1 February 2008, the Central & Eastern European Market Forum (CEE Market Forum) was held for the second time in history by the Warsaw Stock Exchange. The CEE Market Forum is the largest event for investors, companies and capital market institutions in the Central and Eastern European region.
The CEE Market Forum 2008 was opened by Stanis?aw Kluza – Chairperson of the Polish Financial Supervision Authority (KNF), Micha? J. Chyczewski – Undersecretary of State in the Ministry of the Treasury, Jaros?aw Kochaniak – Deputy Mayor of Warsaw, and Ludwik Sobolewski – WSE President.
The CEE Market Forum 2008 was held under the auspices of the Mayor of the Capital City of Warsaw, Ms Hanna Gronkiewicz-Waltz.
This year’s Forum gathered close to 50 companies listed on the WSE Main List and the NewConnect market, including 7 foreign WSE-listed companies. The Forum featured debates, company presentations, one-on-one meetings with investors, workshops and lectures of the Stock Exchange School.
At the gala ceremony closing the first day of the Central & Eastern European Market Forum 2008, WSE President Ludwik Sobolewski presented awards to market participants for their achievements in 2007. The Warsaw Stock Exchange awarded prizes in two categories: for increasing the attractiveness of the market by building a liquid primary and secondary market.>/p>
The secondary market awards were given in 9 categories to Polish market participants in 3 categories to foreign participants:
Polish exchange members:- Total equity turnover value on all markets organized by the WSE in 2007 - ex aequo BZ WBK Brokerage House and ING Securities.
- Highest share in equity turnover value on WSE Main List in 2007, excluding market maker transactions - ING Securites.
- Highest share in derivative instruments turnover value in 2007, excluding market maker transactions - ex aequo BO? Brokerage House and BZ WBK Brokerage House.
- Highest share in equity turnover value on NewConnect in 2007, excluding market maker transactions - BZ WBK Brokerage House.
- Most active WSE Main List equity market maker in 2007 - PKO Bank Polski Brokerage House.
- Most active derivative instruments market maker in 2007 - BO? Brokerage House.
- Most active NewConnect equity market maker in 2007 - PKO Bank Polski Brokerage House.
- Highest absolute increase in equity turnover value on WSE Main List in 2007 - IPOPEMA Securities.
- Highest absolute increase in derivative instruments turnover value in 2007 - OPERA Brokreage Houes.
- Highest equity turnover value in 2007 - WOOD&Company Financial Services.
- Highest derivative instruments turnover value in 2007 - UniCredit Markets & Investment Banking Bank Austria Creditanstalt.
- For revealing a new aspect of the Exchange (structured products) in 2007 - Raiffeisen Centrobank AG
- Co-author of one of the biggest achievements on the Polish capital market in 2007 - Polish Financial Supervision Authority.
- Biggest number of floatations on the WSE Main List in 2007 - IDM Brokerage House.
- Most active Authorised Adviser, considering the number of floatations on NewConnect in 2007 -- CEE Capital,
- Highest cumulative IPO value in 2007 - UniCredit CA IB Polska.
- Highest number of listings of foreign companies in 2007:
- 3rd place - IPOPEMA Securities,
- 2nd place - ING Securities,
- 1st place - UniCredit CA IB Polska.
- Highest value of secondary public offerings in 2007 - IDM Brokerage House.
- Most active Authorised Adviser, considering the cumulative value of NewConnect floatations in 2007 - CEE Capital.
- For servicing the biggest number of floatations in 2007 - NBS Public Relations.
- For promoting actively the Polish capital market among foreign investors - KBC Securities NV, Oddzia? w Polsce.
Key Statistics
Percentage
Index Change in January |
Year to Date |
|
|
WIG20 |
-14.6% |
-14.6% |
|
MWIG40 |
-16.3% |
-16.3% |
|
SWIG80 |
-10.8% |
-10.8% |
|
WIG |
-14.2% |
-14.2% |
|
TECHWIG |
-6.3% |
-6.3% |
|
WIG-PL |
-14.2% |
-14.2% |
|
|
|
|
|
56 listed companies
reported positive returns. |
|||
|
|
|
|
Highest Growth in Stock
Prices in January |
|||
Company |
Price at 28.12.07 |
Price at |
% change |
ATLANTIS |
1.57 |
3.60 |
129.3 |
LDASA |
0.60 |
0.77 |
28.3 |
TOORA |
1.46 |
1.80 |
23.3 |
|
|
|
|
Trading on the cash market was PLN 44,900 million, up by
32% month on month. Trading on the futures market was PLN 77,289 million, up by 37% month
on month. |
|||
Trading in Instruments
(PLN M) |
|
|
|
Shares** |
44,378 |
|
|
Bonds** |
359 |
|
|
MiniWIG20 |
5.9 |
|
|
Futures Contracts |
|
|
|
Value* |
77,205 |
|
|
Volume (#) |
1,274,743 |
|
|
Options |
|
|
|
Value* |
78.1 |
|
|
Volume (#) |
34,799 |
|
|
|
|
|
|
*
based on the value of contracts/options ** excluding block trades |
|
|
|
For more statistics see Monthly Statistics
New Connect
According to statistics published in January by the international consulting company PricewaterhouseCoopers, the alternative market operated by the WSE, NewConnect, with its 24 new listings in 2007 ranked third in Europe by the number of new listings (comparison of H2 2007). Considering that the market was launched on 30 August 2007 and only operated for 4 months in 2007, its performance was very good compared to other alternative markets in Europe.
New Listings
Six companies joined NewConnect in January. At the end of the month, 29 companies were trading on NewConnect.
On 3 January, the company Alumast debuted on the market. The company based in Wodzis?aw ?l?ski was the first new listing in 2008. Alumast is a leading producer and seller of flag posts and lamp posts in Poland. The reference price of its allotment certificates on the first trading session was PLN 7. The opening price was PLN 15.
On 10 January, the company POLMAN listed on the NewConnect market. The core business of the company includes cleaning services for large-surface facilities, removal of industrial sludge with high-pressure water, distribution of professional cleaning equipment and products. The reference price of its allotment certificates for the first trading session was PLN 3.20. The opening price on the first day of trading was PLN 3.18.
On 18 January, the company Grupa Pactor-Potempa Inkasso listed on the NewConnect market. GPPI’s business is debt enforcement. The company buys overdue consumer and corporate debt from original creditors and enforces the debt from debtors under its own name and on its own expense through amicable negotiations, litigation, and bailiff enforcement. The reference price of GPPI allotment certificates was PLN 2. The opening price was PLN 3.93.
On 24 January, the company Euro Consulting & Management listed on the NewConnect market. The company’s core business includes comprehensive consulting on fx risk management. The reference price of allotment certificates for series C bearer ordinary shares for the first trading session was PLN 5. The opening price on the first day of trading was PLN 5.88.
On 28 January, the company Rodan Systems joined the NewConnect market. Rodan Systems is a producer of specialty IT systems for the public administration. The reference price of shares for the first trading session was PLN 5.50. The opening price was PLN 5.76.
On 30 January, the company Organic Farma Zdrowia listed on the NewConnect market. Organic Farma Zdrowia S.A. is Poland’s first and largest chain of deli supermarkets with organic food, cosmetics as well as cleaning and washing products. In addition to certified organic food, the delis offer a wide range of vegan and vegetarian food, products for diabetic and allergic customers as well as a variety of dietary products.
Other Events
In addition to the NewConnect listings, 9 companies were recognised as Authorised Advisers in January.
At the end of January the market included:- 23 Market Members,
- 104 Authorised Advisors,
- 27 Information Vendors,
- 14 Company Report Vendors.
The NCIndex was down by 22.5% in January. The value of trading on the NewConnect market was PLN 101.1 million in January (up by 6% month on month).
For more information see the NewConnect website.
