Bolsa de Valores de Mocambique
HCB 13,75
CDM 200.00
CMH 1,100,00
CETA 120,00
EMOSE 20,00
ZERO 20,00
TOUCH 100.00
ARCO 100.00
OT 2005 S2 8.00%
Moza Banco 2013 Sub 22.50%
Visabeira 2015 20.25%
OT 2015 S4 10.125%
OT 2015 S5 10.50%
OT 2015 S6 10.50%
STB 2015 Sub S1 20.75%
STB 2015 Sub S2 20.25%
STB 2015 Sub. S3 21.75%
BNI 2016 S1 13.50%
Bayport 2016 S1 26.50%
Bayport 2016 S2 25.50%
OT 2016 S1 11.00%
OT 2016 S2 12.75%
OT 2016 S3 16.125%
OT 2017 S1 15.625%
OT 2017 S2 14.625%
OT 2017 S3 15.00%
OT 2017 S4 15.125%
OT 2017 S5 14.5625%
OT 2017 S6 18.25%
OT 2017 S7 18.25%
CM 2017 18.375%
Millennium BIM 2017 15.75%
Opportunity Bank 2017 S1 19.25%
Bayport 2017 S1 23.00%
OT 2018 S1 13.6878%
OT 2018 S2 14.625%
OT 2018 S3 14.5625%
OT 2018 S4 10.00%
OT 2018 S5 16.00%
OT 2018 S6 16.00%
OT 2018 S7 13.75%
OT 2018 S8 13.6875%
OT 2018 S9 16.00%
OT 2018 S10 16.00%
OT 2018 S11 16.00%
OT 2018 S12 16.00%
OT 2019 S2 14.00%
OT 2019 S3 14.00%
Opportunity Bank 2018 S1 19.25%
Opportunity Bank 2018 S2 21.50%

Shares are securities representing a portion of the share capital of a company. Shares may be presented in two ways: physical (a certificate) or book-entry (record in securities accounts).

Shares allow companies to finance themselves by selling them or issuing new ones. When buying a share, the person becomes a shareholder of that company that issued the share in proportion to the shares held. Shares may be classified as follows: 


Regarding Ownership:
 

Shares may be registered or bearer. 

(1) Shares may be registered: 

        a) Until they are fully paid; 

        b) When they cannot be transferred without the consent of the company; 

        c) When the partners enjoy the pre-emptive right in their transfer, under the terms set forth in the articles of association; 

        d) In the case of shares whose holder is obliged under the articles of association to carry out ancillary services to the company.

 

(2) Bearer share – share that is not registered in the name of its owner, and the respective ownership is determined by the physical possession of the share.

As for rights they confer:  

They may be ordinary or preferred. (both registered and bearer shares)

Ordinary shares are those that entitle their holders the full extent of their shareholder rights, including the right to vote in the resolutions of the general meetings and to elect the company's directors.

Preferred shares are those that give their holders priority dividends in each year.

As for stock market volatility: 

  • Aggressive (or volatile) share – share whose value generally shows fluctuations larger than the market as a whole. Usually, usually these are shares with Beta Coefficients higher than 1.

  • Defensive share – share whose value generally presents fluctuations lower than the market as a whole. Usually, usually these are shares with Beta coefficients lower than 1.

  • High Flyer Share – excessively valued and very speculative, which shows abrupt increases in short periods of time.

Beta Coefficient Concept (or Beta Index)

  • The Beta coefficient is a measure of volatility of a share (or basket of shares) in relation to market volatility and measures the so-called systematic risk, i.e. the degree of influence of the global market changes in the evolution of the share price or basket of shares. If, for example, the market index grows 5%, the share listing with a Beta coefficient of 0.5 will increase 2.5%.

  • A share whose Beta coefficient is greater than 1 is said to be volatile; with a Beta coefficient less than 1, is said to be weak or defensive. Thus, in periods of crisis, with a more defensive attitude being preferable, it is necessary to opt for shares whose Beta is less than 1, that is, less volatile shares.

How to calculate the Beta Coefficient

The Beta Coefficient is calculated as the ratio between the Co-variance between the Asset and Market Return and Variance of the Market Return. In algebraic terms:

                                                                         

Where:

βa = Beta;

ra = Asset Return and;

rp = Portfolio Return (can also be used as rm = Return on Market)