Renaissance Capital to launch new index for Central Asia

/REUTERS, Almaty, Maria Gordeeva, June 24, 08/ - On Tuesday, investment company Renaissance Capital presented new share index of most liquidity shares of Central Asia - Renaissance Capital Central Asia Equity Index (RENCASIA). "At the current moment most liquidity companies, divided on 5 sectors are included in this index: oil, gas, metals, banks, and telecommunications. In total there are 13 companies", - Gayrat Salimov, the director of analytic department of investment company said on the press conference. According to Salimov, Renaissance included restrictions on shares weight in index - 15 % and now intends to review it quarterly. At the current moment, shares of mainly Kazakhstan companies participate in RENCASIA`s forming, however, creator doesn't exclude that the number of companies from other countries of Central Asia will rise in the nearest future. "In the nearest 12 months the interest to region will only grow, number of investors will increase...as a result the companies will compete to be included in this index" - Adel Kambar, the chairman of Board of Renaissance Capital Central Asia said. Salimov also gave data on average ratios of RENCASIA. "In average, price/profit ratio on index now makes about 9 times...return on share capital - now makes about 16%, average profit growth on shares, included in index, exceeds 30%" - he said. Today, the shares of: KAZAKHMYS, ENRC, KazMunaiGas, Kazkommertsbank, Dragon Oil, Halyk Bank, Kazakhgold, Max Petroleum, Steppe Cement, BTA, Bank CenterCredit, Alliance Bank and Kazakhtelecom participate in index's forming. [2008-06-24]