Page 38 - Caucasus Outlook 2023

5.0 Markets outlook

5.1 Markets – Georgia

23 companies were admitted on the Georgian Stock Exchange (GSE)
as of May 2022, and Georgia market capitalisation accounted for
$825mn in October 2022, compared to $807.7mn in the previous
month, according to the Georgian Stock Exchange.

5.2 Markets – Armenia

In November 2022 the overall market and trade values of securities on
the Armenia Securities Exchange (AMX) was significantly higher
compared with November 2021.

On the primary auction platform of AMX, the allocation volume of
government bonds has reached AMD15.4bn.

The trade value of the government bonds in November made
AMD8.4bn. A total of 64 trades were concluded with treasury
government bonds.

Corporate bonds show the same dynamic growth in market value and
trade value of securities compared to the indices of the same period
last year. The market value of this month reached AMD406.9 billion.
Trade value in October 2022 reached more than AMD22.7bn, with 244
trades concluded. The number of corporate bonds traded at AMX
reached 100.

The number of repo agreements has increased to AMD589mn.

The same increase in dynamics is recorded in equity data. Trade value
reached more than AMD262mn, market capitalisation surged by 56%,
reaching a total sum of AMD263.5bn, with 528 trades concluded.

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