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  HOME | Venezuela (Click here for more Venezuela news)

Venezuela’s BVC Debt Issuance Increased by 318% in H1



CARACAS – It’s no secret to investors that the size of the Caracas Stock Exchange (BVC for its acronym in Spanish) has been shrinking at a fast pace over the years due to the harsh economic crisis Venezuela is going through.

According to statistics and data compiled by various stock market sources, the amount of transactions are considerably lower than those registered in the 1990s. However, not only the BVC keeps trading shares of important local companies, but also fixed-income trading volumes remain high.

According to figures released by the BVC for the first half of this year, debt securities, unsecured obligations and other equity have been issued in the amount of Bs.382.5 billion ($1.47 million if calculated at Tuesday’s average black market exchange rate of Bs.260142 per dollar) out of which Bs.327 billion have been placed, representing a 318% increase from the same period a year ago, local newspaper TalCual reported on its website Tuesday.

Various sectors including pharmaceutical, agricultural, telecoms and food have had an important participation in the fixed-income market. To date, more than 300 secondary-market series have been registered in the BVC, “which allows emphasizing the need for boosting the trading activity even further around these values and in order to provide investment alternatives for small, mid and large investors,” the BVC said in a report.

Moreover, the cash amount negotiated during the first half of 2020 was Bs.1.55 trillion ($4.05 billion), an increase of 727.80% in nominal terms with respect to January and June of last year. Notwithstanding, the stock market showed a downward trend taking the BVC’s benchmark index Indice Bursátil Caracas (IBC) to 88,643.18 points, 1.75% lower in real terms (after inflation) than the same period a year ago.

As of March 27, stock prices showed a sustained recovery by sending the IBC to 321,057.81 points with a 269.19% rebound by June 30.

 

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