25th July 2023, Skopje – Minister of Finance, Fatmir Besimi, alongside Ivan Shteriev, CEO of the Macedonian Stock Exchange, signaled, as a token gesture, the start of the trading with development bond for citizens by ringing the bell, on Tuesday. The first auction of development bond for citizens was conducted in the course of this month, with total of Denar 1,448,030,000 invested at the auction held on 13th July.
“Citizens who participated in the auction held on 13th July 2023 can trade their bonds on the Stock Exchange starting today. Should they want to get their invested funds back before the end of the maturity period, they are given the possibility to do so through the Stock Exchange. The citizens who did not participate in the auction on 13th July are thus offered the opportunity to purchase the development bond for citizens”, Minister Besimi said.
The citizens can also trade the development bond for citizens through the banks (Komercijalna Bank, NLB Bank, Stopanska Bank AD Skopje, TTK Bank and Sparkasse Bank) and the brokerage houses.
“Citizens have recognized the advantages this new innovative product, we have offered on the financial market, brings. The amount invested at the first auction was by 2.5 times higher than the amount offered, with citizens still showing interest and asking about when and how they can purchase development bond for citizens. Total of Denar 1,448,030,000 was invested by 1,283 citizens. Minimum amount, which the citizens could invest so as to participate in the auction held on 13th July, was Denar 10,000 for purchasing a development bond for citizens, and the interest the citizens will earn is 5% annually, i.e. total of 10% for both years. The interest-related earnings will be paid on 20th July 2024 and 20th July 2025”, the Minister pointed out.
CEO of the Macedonian Stock Exchange, Ivan Shteriev, emphasized that by listing the development bond for citizens and starting its trading on the Stock Exchange, being a centralized place for the holders to buy and sell them, offer of financial instruments on our market is diversified.
“The great interest in purchasing these bonds at the initial offering affirms the Stock Exchange’s thesis that quality and attractive instruments on the market are undoubtedly in demand – it just takes willingness and an ability to recognize what is exactly needed. By issuing the development bond for citizens, the Ministry of Finance has recognized all this and, thus, has made a sound decision. We hope this is just the beginning and other new or similar issues of government securities will follow, with the Stock Exchange, as an institution with proper infrastructure, always standing ready to underpin these activities in support of further development of investment culture and Macedonian capital market in general”, Shteriev said.
Development bond for citizens, as a stable and risk-free instrument, will be present on the market in continuity, with yet one more issue planned to be launched at the end of this year. The benefits for the citizens are multiple, since investing in this instrument also contributes to growth of the domestic economy and reduction of informal economy. In addition to the development bond for citizens, yet another new instrument – “green bond” – will be offered by the end of this year, intended for both the citizens and the legal entities, with the funds raised to be used for green investments.
Besides the development bond for citizens, denationalization bonds and continuous government bonds are also listed on the Stock Exchange. As per the Agreement signed between the Ministry of Finance and the Stock Exchange, listing of all future issues of government bonds, which the Ministry of Finance will submit request for, will continue in the coming period.
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