Cabo Verde Stock Exchange ends 2016 with market capitalisation of US$646 million

23 February 2017

The Cabo Verde (Cape Verde) Stock Exchange (BCV) ended 2016 with a market capitalisation of 67.775 billion escudos (US$646.6 billion), which represents an annual increase of 8.5%, according to the BCV annual report.

The document said that despite having been a slight decrease in the number of listed securities (-2.5%), the total value of transactions in the primary market increased again (9.2%) over the same period, totalling 14.470 billion escudos (US$138 million).

The report highlights issues of bonds through private offerings by companies such as airport company Aeroportos e Segurança Aérea (ASA), airline TACV and Banco BAI and Treasury bond auctions, which were the driving force behind the figure recorded in 2016 of 15.801 billion escudos.

The report also said that, following the trend of previous years, the primary public debt market was more dynamic, accounting for about 92% of the total amount recorded in the primary market.

Noting that 2016 recorded a good performance, “taking into account the various macroeconomic limitations,” the report and BCV accounts mention the fact that the transactions in the secondary market recorded “a considerable increase of 556.1% over the amount recorded in 2015,” with a total of 1.4 billion escudos (US$13.3 million).

However, the BCV highlighted the fact that this segment – the secondary market – continued to have a lack of liquidity, considering the frequency of transactions (44 in total). (macauhub)