Macedonian SE CEO Message

Tuesday, 11 March 2008

2007 was an extraordinary year for the Macedonian Stock Exchange. The total turnover of the MSE was a record breaking 990 million US $. The turnover in 2007 is 4,5% higher than the combined turnover in 2005 and 2006.

More detailed analysis of the turnover shows the quality level of the MSE performance in 2007: trading in equities through BEST trading system reached about 683,7 million US$ which indicates 237% increment compared with the same figure in the 2006.  The total number of transactions executed in 2007 (141.984) increased by 168% compared with 2006 and it is almost equal with the number of transactions performed on the MSE during the previous 6 years combined.

At the end of the year 38 companies were listed on the Official market with market capitalization of around 2,7 billion US$, which compared with 43 companies listed at the end of 2006 with market capitalization of 1,2 billion US$ means increment of 122%. Until the 31 December 2005 all companies that fulfill listing requirements were obliged to be listed on the MSE Official market, but since January 2006, listing is on a voluntary base.

Macedonian Stock Exchange index MBI-10 started the year with 3.812 points, increased the highest level in the history of MSE on 31 August, 2007 (10.057,77 points) and ended the year at 7.740,79 points which indicates increment of 109%. This is third year in rows with ascending trend of MSE index (MBI-10 in: 2005 2.292,04 points and 2006 3.702,54 points).

During 2007 few takeovers become effective, especially in the banking sector with entrance of French, Icelandic and Bulgarian capital.

By the end of the year four exchanges from the region (the Belgrade, Macedonian, Zagreb and Ljubljana Stock Exchange) signed Memorandum of Partnership. This document will contribute to closer cooperation in promotion of the regional market, international promotion of regional issuers and products and further development of regional products, services and members.

Ivan Steriev