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Six companies listed on WSE Main List and NewConnect in May, the highest monthly number of IPOs so far this year, placing the WSE on the first place in Europe in this respect.
WSE Main Market
New Listings
APLISENS listed on 25 May. The company operates as a capital group whose business comprises the production of controlling and measurement equipment and automation components as well as comprehensive advisory in designing and developing applications of products offered by the group.
The company has technical and commercial offices in Poland and abroad.
IPOPEMA SECURITIES S.A. listed on 26 May as the second brokerage house on the WSE Main List. The company offers services including:- brokerage;
- investment banking;
- market research and investment advice.
Exchange Members
Saxon Financials Limited, a company of UK origin, started operations on the WSE on 27 May. Saxon Financials Ltd is the first company operating on the WSE as a member without a broker license (acting as a “local”). Such arrangement is permitted by law on the condition that trading is done only in derivative instruments, futures and options, and on the company’s own account. Another requirement is that the transaction’s counterparty risk must be borne by clearing members.
Saxon Financials Ltd is a proprietary trading firm (investing on its own account only) launched in 2000. It provides its traders with access to markets and professional IT systems as well as the capital to invest on the firm’s own account.
The WSE has currently 46 members, including 29 domestic and 17 foreign remote members from Hungary, the Czech Republic, Austria, the United Kingdom, France, Germany, Sweden, Slovakia and Estonia.
In May, the WSE offered its members a new transaction system access solution. WebPAM, the new software developed by NYSE Euronext Technology and implemented by the Warsaw Stock Exchange, gives investment firms access to the WSE’s transaction system via a web browser. The new service makes the submission and execution of orders by WSE Main List and NewConnect market members both easier and simpler and, most importantly, as secure as using traditional access solutions. The WSE’s new offer is mainly addressed to small investment firms, especially in Central and Eastern Europe, which have not yet used the large potential and broad offering of instruments listed on the Warsaw Stock Exchange because of the cost of traditional IT solutions.
Other events
On 4 May, the Warsaw Stock Exchange started the publication of two new indices: WIG20short and WIG20lev. Both indices are based on the WIG20 index. The movements of WIG20short reflect the inverse of the WIG20 changes, e.g., a 10pt fall of WIG20 will translate into a 10pt rise of WIG20short. WIG20lev changes in the same direction as WIG20 but with twice the magnitude, e.g., a 10pt rise in WIG20 will mean a 20pt gain in WIG20lev.
The new indices are published according to the same schedule as WIG20, every 15 seconds from open until close of continuous trading. The base date of the indices is 31 December 2005 (2,654 points) and the historical value of the indices was calculated on that basis.
The new indices may be used as a reference for investment in certain financial assets and, therefore, as the underlying of other financial instruments in particular structured products. At the moment, there is one structured certificate listed on the Warsaw bourse which falls into this family of instruments as it is based on the shortDAX index.
On 7 May, the WSE and TVN signed an agreement whereby TVN will be the third television station (after CNBC Europe and TV BIZNES) to publish selected real-time exchange information (to the extent agreed with the WSE) in its freely accessible television information programmes.
Television stations typically publish such information in the form of tickers. The scope, the mode, and the trade terms of such presentation of exchange data are governed by special agreements between stock exchanges and media companies.
The ninth and tenth series of structured certificates issued by Deutsche Bank AG, London Branch, were introduced to trading on the WSE on 21 May and 22 May 2009 respectively. The specifications of the new certificates are the same as those of similar instruments previously introduced to the WSE but they have different maturity, barrier determination dates and coupon values.
The BZ WBK Nowa Era and BZ WBK Platinium+ structured bonds issued by SecurAsset SA. were introduced to trading on the WSE on 25 May. The underlying are indices published by BNP Paribas as well as the WIG20 index.
The WSE lists 62 structured products, including 13 bonds and 49 certificates (35 structured certificates, 1 bonus structured certificate, 1 guaranteed structured certificate, 2 short structured certificates, 10 express structured certificates). In 2009, 16 products (13 structured certificates and 3 structured bonds) have been added to the range of structured products listed on the WSE.
Conferences and Meetings
"Spreading the Wings" – The Warsaw Stock Exchange as a Development Engine was the main theme of a meeting organised by the Warsaw Stock Exchange in co-operation with Polish Professionals in London at the Polish Embassy in London on 28 May. Poles living in London and working in large international corporations were invited to the meeting. The goal of the event was to present the potential of the Polish capital market, the directions of its growth and the current position of the WSE in the CEE region.
Prime Minister Donald Tusk and Finance Minister Jacek Rostowski participated in a press conference held at the WSE head office on 29 May. They presented and commented on Poland’s GDP statistics for Q1 2009 published on that day by the Central Statistical Office. According to the statistics, the Gross Domestic Product grew by 0.8 percent in Q1 2009 year on year in Poland, the second highest growth rate in Europe. The GDP growth quarter on quarter was also very strong. The Polish GDP grew by 0.4 percent in Q1 2009 quarter on quarter. In his commentary on the statistics, Prime Minister Tusk stressed that Poland is the only country in Europe to report quarter-on-quarter economic growth in Q1 2009. Poland ranked much better than the EU founding members and the other countries which had joined the EU together with Poland.
Key Statistics
|
Percentage
Index Change in May |
Year
to Date |
|
|
WIG20 |
0.2% |
0.7% |
|
MWIG40 |
3.4% |
15.3% |
|
SWIG80 |
5.0% |
31.8% |
|
WIG |
1.0% |
7.7% |
|
WIG-PL |
0.6% |
6.4% |
181 stocks on the Main List reported positive returns.
|
Highest
Growth in Stock Prices in May |
|||
|
Company |
Price
at 30.04.09 |
Price
at 29.05.09 |
%
change |
|
PWRMEDIA
|
1.74 |
2.98 |
71.3 |
|
MAKARONPL
|
3.11 |
5.18 |
66.6 |
|
FASING
|
10.28 |
16.94 |
64.8 |
Trading value on the cash market was PLN 26,505 million, down by 13% month on month. Trading value on the futures market was PLN 36,947 million, up by 5% month on month.
|
Trading
in Instruments (PLN M) |
|
|
Shares and
rights to shares** |
26
224 |
|
Bonds** |
271 |
|
MiniWIG20 |
0.8 |
|
Futures
Contracts |
|
|
Value* |
36
920 |
|
Volume (#) |
1
030 742 |
|
Options |
|
|
Value* |
26.8 |
|
Volume (#) |
27
487 |
|
|
|
|
* based on the
value of contracts/options |
|
|
** excluding
block trades |
|
|
May
2009 |
Primary
Market (Regulated Market + NewConnect) |
|
Newly issued
shares |
292
116 386 |
|
Already issued
shares |
26
249 985 |
|
Newly listed
companies |
41
249 985 |
|
Already listed
companies |
277
116 386 |
For more statistics see Monthly Statistics
New Connect
New Listings
The company Elektromont listed on NewConnect on 14 May. The company provides services of implementing low and medium voltage electric wiring systems. Its services include creating the idea of installations in a facility, design, execution, and maintenance.
The company Powszechne Towarzystwo Inwestycyjne (PTI) listed on 18 May. PTI’s core business is to make private acquisitions of up to several percent of equity in SMEs and start-up companies. PTI expects that in the next 2-3 years it will build up a portfolio of several lead holdings with a longer investment horizon as well as several short-term investments.
The company Hotblok listed on 19 May. The core business of Hotblok is to produce and sell a construction material system using its proprietary technology. The Hotblok construction system comprises an innovative multi-component range of materials (blocks) used to produce single-layer (non-insulated) external building walls with a heat transmission ratio much superior to the applicable guidelines and norms.
The company GoAdvisers listed on the alternative market on 20 May. GoAdvisers provides financial advisory to companies and specialises in private equity and venture capital investment in promising start-up companies.
GoAdvisers’ operates as an investment boutique (similar to an investment bank, on a smaller scale but more dynamic). The company is also an Authorised Adviser of the NewConnect market.
Other Events
A communiqué of the WSE Management Board published on 22 May announced the terms of the next evaluation of Authorised Advisers of the NewConnect market. In 2009, the evaluation will be carried out between 1 June and 15 July and will cover 92 Authorised Advisers – advisory companies licensed as Authorised Advisers under a resolution of the WSE Management Board adopted on 30 September 2008. The results of the evaluation will be published in a WSE communiqué on 15 July 2009.
Key Statistics
|
Percentage
Index Change in May |
Year
to Date |
|
|
NCINDEX |
-1.6% |
1.3% |
26 companies listed on NewConnect reported positive returns.
|
Highest
Growth in Stock Prices in May |
|||
|
Company |
Price
at 30.04.09 |
Price
at 29.05.09 |
%
change |
|
VENO |
0.02 |
0.05 |
150.0 |
|
MARKETEO |
0.85 |
1.90 |
123.5 |
|
POLNOCNR |
1.00 |
1.89 |
89.0 |
Trading value in shares and rights to shares on NewConnect was PLN 34 million, up by 63% month on month.
|
Trading
in Instruments (PLN M)* |
|
|
Shares |
33.5 |
|
Rights
to shares |
0.0 |
|
*
excluding block trades |
|
For more information see the NewConnect website.
