Mavzu: Qimmatli qog’ozlar

5 - Mavzu: Qimmatli qog’ozlar

5 - Mavzu: Qimmatli qog’ozlar

O’qituvchi: PhD. Ziyodilloyev Xushnud

Email: [e-mail]

Tel: [phone]

Qonun

• 2015-yil 3-iyunda “Qimmatli qog’ozlar bozori to’g’risida”gi qonun qabul qilingan

Data

• Qimmatbaho qog'ozlar bozoridagi investitsiyalarning o'rtacha daromadliligi Yiliga 20-25%, bu bank depozitidan ikki baravar ko'p.
• Ammo bu o'rtacha foizdir, uni tez rivojlanayotgan kompaniyalarga investitsiya kiritish orqali 30-80% ga oshirish mumkin.
• Masalan, so'nggi 2,5 yil ichida faqat bitta - Amazon 300% ga o'sdi.

data

Aksiya va qimmatli qog’ozlar chiqarish

• IPO usulida
• SPO usulida

Aksiya va qimmatli qog’ozlar chiqarish

• IPO – Initial public offering
• SPO – Secondary public offering
• IPO – Emitent komp. Aksiyalarini ochiq bozorga birinchi marta sotuvga chiqaradi

Example: O’zbekistonda 1-marta …

• “Kvarts” AJ – IPO usulida aksiya chiqargan
• “Shahrisabz serob aroq” va “Qo’qon mexanika zavod” SPO usulida

Xususiy sektor

UZB Markaziy bank

• Markaziy bank ochiq bozor operatsiyalar bajarmayapti
• Hukumut qimmatli qog’ozlari bilan amalga oshiradi
• OBYEKTI: Davlat qisqa muddatli obligatsiya, o’rta muddatli xazina majburiyatlari

Fact

• 2010 – yilda Davlat qisqa muddatli obligatsiya,
• 2013- yil 1-yanvardan o’rta muddatli xazina majburiyatlarini emissiya qilishni to’xtatdi

Xalqaro amaliyotda

• Deposit sertifikatlari – Niderlandiya, Daniya, Ispaniya, Yevropa MB
• Moliyaviy veksellar – Angliya MB, Germaniya Bundesbank, Japon MB
• Korporativ obligatsiya – Janubiy Korea, Chili, Rossiya MB

NASDAQ aksiyalarining daromadliligi

Investitsiya e-commercega

Bir oy ichidagi foyda,

• Bir oy ichidagi foyda,
• taniqli kompaniyalar tomonidan 

INVESTITSION TREND

INVESTITSION TREND

• The September 2014 IPO of the giant Chinese e-commerce firm Alibaba was a typical
• example of underpricing. The company issued about 320 million shares to the public at a price
• of $68. The stock price closed that day at $93.89, a bit more than 38% above the offering price.

• Pricing of IPOs is not trivial and not all IPOs turn out to be underpriced. Some do poorly
• after issue. Facebook’s 2012 IPO was a notable disappointment. Within a week of its IPO,
• Facebook’s share price was 15% below the $38 offer price, and five months later, its shares
• were selling at about half the offer price. (In the end, however, those who held onto their
• shares profited; by late 2014, the share price was near double the IPO offer price.)