In February, the Belgrade Stock Exchange observed an average daily turnover of EUR 0.38m.

The Belgrade Stock Exchange reported a turnover of EUR 6.68m in February 2020 (when observing solely equity). This would translate to an average daily turnover of EUR 0.33m.

In February, the most traded share (excluding block transactions) was NIS with a turnover of EUR 0.76m. Next come Alfa Plam with EUR 0.53m and Messer Tehnogas with EUR 0.47m.

When observing gainers of the BELEX 15 index, Komercijalna Banka (preferred) recorded the highest increase of 11.11%. As a reminder, last month NLB Group entered into a share purchase agreement with the Republic of Serbia for the acquisition of an 83.23% ordinary shareholding in Komercijalna Banka. NLB acquired the 83.23% shareholding for the amount of EUR 387m, which will be payable in cash on completion. Such a price puts the transaction multiple at P/B 0.77 and P/E 6, while it implies a valuation of EUR 465m for the 100% stake in Komercijalna Banka. To read more about it, click here.

Of the top gainers, Jedinstvo comes second with an increase of 9.5%, followed by Messer Tehnogas with an increase of 6.2%. On the flip side, NIS observed the highest decrease of 4.5%.

Turning our attention to BELEX15, the index observed a decrease of 1.13%, ending at 799.08 points.