Activity on BELEX in February 2021

BELEX15 index recorded an increase of 1.6% and ended the month at 745.64 points.

The Belgrade Stock Exchange published their February report according to which turnover amounted to EUR 6.2m (when observing solely equity). This would translate to an average daily turnover of EUR 345k. The total turnover dropped 7% YoY (EUR 6.68m in February 2020).

The most traded share (excluding block transactions) was Komercijalna banka with a turnover of EUR 3.9m, accounting for more than half of the equity turnover. As a reminder, NLB has published a Takeover Intention Notification in daily newspaper Politika (newspaper that is regularly distributed on entire territory of Serbia). The Takeover Intention Notification regards the acquisition of:

  • all remaining regular shares of Komercijalna banka at the point of publishing not in NLB‘s ownership (2,820,270 shares or 16.77% of this class of shares) and
  • all priority shares of Komercijalna banka (373,510 or 100% of this class of shares)

NLB’s takeover intention states that it intends to submit Takeover Approval Request to Serbian Securities Exchange Commission (“SEC”) within a period of 15 business days and publish Takeover Bid immediately (latest the next following day) after obtaining the corresponding approval from SEC. Following the mentioned takeover, Komercijalna banka will consequently be delisted from the exchange. KMBN is currently one of the index heavy weights with a 20% weight in the BELEX15.

As a result of the above mentioned, Komercijalna Banka pref. share surged by 25%, while the regular share increased by as much as 6.67%. Of other index constituents Dunav osiguranje noted an increase of 8.8%, while Messer Tehnogas recorded an increase of 4.9%.On the flip side, Galenika Fitofarmacija witnessed a decrease of 3.76%.

BELEX15 index recorded an increase of 1.6% and ended the month at 745.64 points.

Category : Flash News

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