Latvian stock market – unused potential for profit

Latvian stock market – unused potential for profit

Latvia’s stock market, despite its status as the smallest in the Baltic States, has basically all that is necessary for a successful profit-making venture with stocks from a variety of companies. Even though there are a relatively small number of companies listing their stocks, there is a point of view that more companies should utilize the potential the stock market can offer them.

*  The Riga Bourse, renamed NASDAQ OMX Riga (OMX Riga) in 2008, offers shares on three lists: Official, Second and on the First North alternative market list. 


*  Development of a public stock exchange in Latvia was facilitated primarily by the privatization process for state-owned companies that began in 1992. 


*  In 2000, share turnover at the Riga Bourse reached record volume at EUR 240 million. The record set in 2000 stands to this day.


* In 2016, the value of the OMX Riga index increased 23.46%.


*  In order to increase liquidity, in July of 2013, a new Baltic Market Making Program was introduced in the Baltic securities market. Also in 2013, for the first time, a Latvian company joint-stock Baltic Telekom, which operates under the brand-name Triatel, was included on the First North for smaller companies and growth companies.


*  The subordinated bonds of Citadele Bank was be listed on the Baltic Bond List by Nasdaq Riga as of December 15, 2016. The size of Citadele Bank bond issue is EUR 40 million. The nominal value of one bond is EUR 10,000.


*  In the coming years, hopes will be pinned on the privatization of several state-owned companies, including telecommunications companies Lattelecom and Latvijas Mobilais Telefons, as well as the sale of Latvian national airline airBaltic.


Facts 2016

*  2016 saw a total of 114,160 trades on the Baltic OMX, or 256.6 million shares in the amount of EUR 259.69 million (EUR 231.9 million from shares on the Official list).


 *  All three Baltic stock exchanges recorded growth last year – OMX Riga by 23.46%, OMX Tallinn by 19.63%, but OMX Vilnius by 14.92%.


*  2016 was a rather successful year for Latvian companies on the OMX Baltic’s Official list. The largest reduction in share value was recorded by Second list company VEF Radiotehnika RRR – 69.17%. Furthermore, only one Latvian company listed on the Official list all saw a reduction in its share value – Grindeks – by 15.58%. The rest of the Latvian companies listed on the Official list saw their share values increase. Latvijas Tilti registered the greatest increase in share value – by 154.67%.


*  In 2016, looking at both the Official and Second lists, Latvijas Tilti saw the largest increase in its share price, followed by Rīgas elektromašīnbūves rūpnīcas (82.4% increase) and Kurzemes ciltslietu un mākslīgās apsēklošanas stacija (65% increase).


*  In 2016, the most trades were conducted with pharmaceuticals producer joint-stock Grindeks shares – 2,679.


*  Last year, pharmaceutical company Olainfarm achieved the largest turnover in share transactions amongst Latvian companies – EUR 2.96 million. 

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