Qimmatli qog’ozlar. 5 - mavzu

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5 - Mavzu: Qimmatli qog’ozlar
O’qituvchi: PhD. Ziyodilloyev Xushnud
Email: [email protected]
Tel: +998-99-931-74-42

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

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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.

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data

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Aksiya va qimmatli qog’ozlar
chiqarish
IPO usulida
SPO usulida

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Aksiya va qimmatli qog’ozlar
chiqarish
IPO – Initial public offering
SPO – Secondary
public offering
IPO – Emitent komp. Aksiyalarini ochiq
bozorga birinchi marta sotuvga chiqaradi

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Example: O’zbekistonda 1-marta …
“Kvarts” AJ – IPO usulida aksiya chiqargan
“Shahrisabz serob aroq” va “Qo’qon mexanika
zavod” SPO usulida

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Xususiy sektor

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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

16.

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

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

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NASDAQ aksiyalarining daromadliligi

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Investitsiya e-commercega

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Bir oy ichidagi foyda,
taniqli kompaniyalar tomonidan

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INVESTITSION TREND

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INVESTITSION TREND

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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.

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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.)