MBABANE – The Eswatini Stock Exchange (ESE) has reported that at the end of the second quarter of 2023 (April – June), the total government bonds value was E6.221 billion.
It was reported that there was a 0.66 per cent increase from the previous quarter’s close of E6.180 billion. The increase was reportedly due to the higher value of new bonds and re-openings, while the value of maturities was lower in the period under review. Year-on-year, there was a 9.30 per cent increase in value of bonds trading. There was one government bond that matured with its two re-openings on the exchange in June 2023.
Realised
Meanwhile, on corporate bonds, it was reported that the second quarter realised six new note issuances and no reopening. The bonds that commenced trading in the quarter under review were SML916, SML917, SML918, SBC109, FIN500 and SML919. The six (6) bonds that matured were SML815, FIN307, SML803, SML905, FIN308 and FIN310. This saw the cumulative corporate bonds outstanding as of June 30, 2023 increase to E1.620 billion, from the previous quarter’s outstanding amount of E1.606 billion. This marked a 0.89 per cent increase in total corporate bonds outstanding. Year-on-year, total corporate bonds outstanding increased by 0.46 per cent from E1.613 billion in June 2022, to E1.620 billion in June 2023.
The ESE further reported its market capitalisation value increased slightly from E4.366 billion from the end of the 1st quarter 2023 to E4 403 722 628 at the end of the 2nd quarter of 2023. It was noted that there were two share price increases in all the trades for the period under review which is why the market capitalisation increased slightly. Year-on-year, the market capitalisation increased by 1.83 per cent from E4.324 billion in June 2022, to E4.404 billion in June 2023, due to the share price increases from Nedbank and Swaziland Empowerment Limited (SEL).
The ESE All Share Index increased by 0.88 per cent from 460.24 at the end of the 1st quarter 2023 to 464.27 at the end of the 2nd quarter 2023.
Trading during the quarter under review was very minimal even though two trades did manage to influence the All-Share index increase.
There were two share price movements and all the other five listed companies share prices remained unchanged over the period under review.
Increased
Year-on-year, the All-Share Index increased from 455.91 in 2nd quarter 2022 to 464.27 in 2nd quarter 2023, reflecting a 1.83 per cent increase which was attributable to share price increases from Nedbank and SEL. There were two share price movements (Nedbank and SEL) from the listed equities in the period under review. The biggest price movement on a yearly basis was from Nedbank Eswatini Limited, followed by SEL and Greystone Partners Limited, respectively. The other four listed companies share prices remained the same. In terms of yearly market capitalisation, there were increases in Nedbank by 16 per cent, SEL by 2.70 per cent and Greystone Partners by 1.59 per cent. These share price increases caused the market capitalisation to increase in tandem.
Increase
On a year-on-year comparison, the market capitalisation realised a 1.83 per cent increase. A total turnover of E348 015.80 was recorded from a sale of 42 034 shares over a total of eight trades concluded over the 2nd quarter 2023. In comparison to the close of the 1st quarter 2023, turnover increased by 32 per cent from E263 572 at the end of the 1st quarter 2023 to E348 016 in the 2nd quarter 2023. It is worth noting that SEL declared an interim dividend of E 24 million comprising 130 cents per share, to ordinary shareholders registered as such in the company’s share register at the close of business on or before June 23, 2023. Payment of dividend was expected to be no later than June 30, 2023.
