Bolsa de Valores de Mocambique
ARCO 100,00
CDM 55,00
CMH 2.100,00
EMOSE 15,00
HCB 1,91
REVIMO 12.750,00
TOUCH 3,20
ZERO 20,00
BAYPORT 2019 Série I 20,0000%
BAYPORT 2019 Série II 19,0000%
BAYPORT 2020 Série I 16,0000%
BAYPORT 2020 Série II 23,8000%
BAYPORT 2021 Série I 22,3000%
BAYPORT 2021 Série II 22,2300%
BAYPORT 2021 Série III 22,2300%
BAYPORT 2021 Série IV 22,2700%
CM 2017 19,0000%
VISABEIRA 2020 25,0000%
OT 2005 S2 8,0000%
OT 2017 S6 20,6250%
OT 2017 S7 20,6250%
OT 2019 S1 9.4375%
OT 2019 S4 14,9375%
OT 2019 S7 19,5000%
OT 2019 S8 10,0000%
OT Fornecedores 2019 7,5625%
OT 2020 S1 16,9375%
OT 2020 S2 17,0000%
OT 2020 S3 17,0625%
OT 2020 S4 17,0625%
OT 2020 S5 19,0000%
OT 2020 S6 10,0000%
OT 2020 S7 19,2500%
OT 2020 S8 19.2500%
OT 2020 S9 19,3125%
OT 2020 S10 19,3125%
OT 2020 S11 9,3750%
OT 2021 S1 19,3125%
OT 2021 S2 19,0000%
OT 2021 S3 18,5625%
OT 2021 S4 17,6250%
OT 2021 S5 18,5000%
OT 2021 S6 18,5000%
OT 2021 S7 18,5625%
OT 2021 S8 16,3125%
OT 2021 S9 17,8750%
OT 2021 S10 14,5000%
OT 2021 S11 9,3750%
OT 2022 S1 18,8000%
OT 2022 S2 18.2500%
OT 2022 S3 19,5500%
OT 2022 S4 18,5500%
OT 2022 S5 17,0000%
OT 2022 S6 17,0000%
OT 2022 S7 17,7500%
OT 2022 S8 17,6250%
OT 2022 S9 17,750%
OT 2022 S10 19,0000%
OT 2022 S11 17,5000%
OT 2023 S1 19,0000%
OT 2023 S2 19,0000%
BNICOVID-19 S1 4,9440%
BNI 2021 S2 11,700%
BNI 2021 S3 15,7500%
BNI 2022 S1 20,0000%
PC MYBUCKS 2022 S1 18,9000%
BAYPORT 2022 Série I 22,0000%
MWIH ---
OT 2023 S4 19,0000%

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:



βa = Beta;

ra = Asset Return and;

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