4 January 2021 – All disturbances notwithstanding, the year 2020 was full of interesting events on the stock exchange, and several companies were not deterred by Covid-19 from joining the PSE. During the spring lockdown, the stock exchange remained operational. Trading went smoothly, and trading volumes increased.
- The total volume of stock trades increased by 15% year-on-year with a total value of CZK 125.3 billion
- PX-TR Index lost 4.97%
- The best performing index issue was Stock Spirits with a year-on-year gain of 25.81%
- Issue with the highest growth on the START market – Pilulka Lékárny 37.97
- Most traded issues were ČEZ, Komerční banka, Erste Group Bank, Moneta Money Bank, AVAST
- Number of new bond issues 15
- Number of settled trades 1,104,103 in total volume CZK5,032,216,770,311.15
- Trading volume on the electricity market: 277.808 TWh. Year-on-year, trading volumes increased by 49%
- Trading volume on the gas market: 12.868 TWh. Year-on-year, trading volumes increased by 34,5%
The START market has really shone this year. A market for small and medium-sized companies was launched two years ago. This year, several new features and two issues have been added. Since 12 March, trading has been daily instead of monthly. It thus takes place every business day in regular morning auctions from 9 a.m. to 12.30 p.m. Moreover, new issues can enter the market at any time during the year (previously, it was possible on START Days).
In the autumn, the Start market witnessed the two most successful IPOs of its history: eMan joined on 4 September and Pilulka on 26 October. In both cases, the orders exceeded the number of shares offered, which was also felt in subsequent trading. The value of eMan and Pilulka thus increased by 19.61% and 37.97%, respectively. KARO Invest a.s., which has been traded on the START market since last year, launched another successful issue of its shares. Currently, its free float (the publicly traded portion of the issue) amounts to 39.31%.
The START market can also boast a new website, which was launched in May.
Other stock markets have performed well, too. A total of 15 new bond issues have been added in 2020, of which six are government bonds, five are corporate bonds and four are financial bonds. Total value: government bonds CZK 392.42 billion, financial bonds CZK 5.4 billion, and corporate bonds CZK 12.43 billion. The largest issue of corporate bonds was the EPH issue, which was worth CZK 7.5 billion, followed by Heureka, with CZK 3.2 billion.
On June 1, Česká zbrojovka (CZG) entered the Prime Market. This was a technical listing, and the shares were not traded. The regular IPO took place in the autumn, and the issue started trading on 2 October.
As part of the update of the XETRA T7 trading system, a new trading functionality, Trading at Close, which permits trading at the closing price, was introduced on 30 November. The TaC phase comes immediately after the final auction and lasts for ten minutes. Trades are closed after the end of the closing auction exclusively at the price set there, i.e. the closing price. Along with the introduction of TaC, the trading hours were adjusted at the expense of continuous trading so that the trading day still ends at 4:30 p.m.
The Exchange Court of Arbitration, which is affiliated with the PSE, has greatly innovated its operations this year. It can now serve as an alternative to international arbitration tribunals, which handle many significant disputes involving domestic entities. The Court also has a new website at www.pseac.org.
The Central Securities Depository, a subsidiary of the PSE, has become a direct participant in the TARGET2 payment system, which is a clearing system operated by the central banks of the eurozone. It is now possible to issue, trade and settle securities denominated in EUR in the Czech Republic.
Another subsidiary, POWER EXCHANGE CENTRAL EUROPE (PXE), introduced its new PARC4U product in 2020. It is an application that selects the best energy supplier for households and business owners.
You may also find the pdf file with the most important statistics here.