Market cap of Cabo Verde stock exchange exceeds 38 pct of GDP

21 March 2016

The capitalisation of the Cabo Verde (Cape Verde) Stock Exchange has exceeded 62.466 billion escudos (US$638 million), an annual increase of 5.6 percent, and now represents 38 percent of the country’s gross domestic product, according to a report produced by the Stock Exchange.

The Extensive Operations Report of the Cabo Verde Stock Exchange for 2015 said that although there was a slight decrease in the number of securities listed in 2015 operations in the primary market grew 20.8 percent year on year, reaching a value of 15.558 billion escudos.

The document highlights the bonds issued through private offering of flagship airline TACV, real estate company Imobiliária Fundiária e Habitat (IFH) and of pharmaceutical company Empresa Nacional de Produtos Farmacêuticos (Emprofac) as well as auctions of Treasury bonds.

At the end of 2015, there were four listed companies, 14 issues of private corporate bonds, four fewer than in 2014, two issues of municipal bonds and 223 issues of Treasury securities (bills and bonds), seven fewer than a year before .

The overall trend for prices was some stability in 2015, with fuel company Enacol and tobacco company SCT prices unchanged and those of banks Banco Comercial do Atlântico and Caixa Económica de Cabo Verde registered an increase of 0.33 percent. (macauhub/CV)