Extract from the 1998 guide to central and eastern European equities
The National Stock Exchange of Lithuania (NSEL) recorded a modest increase in 1997, with the leading LITIN-A index rising from 1660.7 to 1939.1. In 1998 the market is forecast to rise by 15% with a target figure of 2510 for the LITIN-A. Market capitalization is expected to increase from $2.55 billion to $3.5 billion although growth in the first quarter is predicated on a satisfactory solution to the economic turmoil in Asia which has hampered the expansion of the Lithuanian market. The major news for 1998 will be the privatization of government stakes in strategic enterprises such as telecommunications company Lietuvos telekomas, stevedoring company Klasco, shipping company Lisco, oil refinery Mazheikiu Nafta and fuel retailer Lietuvos kuras.
The total number of issues listed on the NSEL is expected to increase to 1,150. Listings for Lietuvos Telkomas, airline Lietvuos Avialinijos and oil exploration company Geonafta are among the most keenly awaited.