The Federation of Euro-Asian Capital Markets
About Company
Republican Stock Exchange "Toshkent"
Established: 8th April 1994
Address: 100107, Mustaqillik street, Tashkent city, Uzbekistan
Contact person: Rafaella Djafarova
Email: Int.relations@uzse.uz
Website: www.uzse.uz
- Joined FEAS in 1997 -
George Paresishvili
Chairman of the Board
Year in review
Summarising the results of the year for the Republican Stock Exchange “Toshkent”, I would like to start by saying that 2024 was an important milestone in the development of Uzbek capital market. We saw the highest annual trading volume in the history of the Tashkent Stock Exchange as it offerred new opportunities to investors, traders and issuers.
Despite a five-fold increase in the number of executed trades in 2023 compared to the previous year, in 2024 the number of trades grew by another 21%. The overall trading volume amounted to UZS 21.95 trillion ($1.71 billion), representing an increase of UZS 19.06 trillion or 659.3% compared to the previous year. Of this total, UZS 19.56 trillion ($1.53 billion), or 89.11%, was linked to transactions involving securities listed on the exchange.
The majority of the trading volume (UZS 18.6 trillion) occurred on the Free of Payment Board (FoP), where transactions related to private placements and block trades on the secondary market were conducted. The significant growth in transaction volume on the FoP can be attributed to its active use by issuers, who are gradually transitioning from the unorganized over-the-counter market to the organized exchange-driven market for their trades. This shift enhances transparency and openness in the stock market. As a result, the share of the unorganized market decreased from 94% in the previous year to 58%, while the share of the organized market increased from 6% to 42% in 2024.
One of the key events of the current year was the “Summer Trading Challenge”. This competition drew interest not only from professional traders, but also from beginners. 279 participants executed 22.4 thousand transactions, accounting for 18.4% of the total number of transactions concluded on the Exchange during this period. In addition to bringing more investors to the market, the competition helped to enhance financial literacy of a wider population.
2024 saw the first public offering – the SPO of JSC "UzEx" for UZS 42.9 billion ($3.4 million) under the "People's IPO" program announced earlier that year.