Free Float of CROBEX Constituents

As the revision of CROBEX occurred this week (21 September), we decided to present you with the updated free float of CROBEX constituents.

In our analysis we considered free float to equal all individual shareholdings lower than 5%, while pension funds and UCITS funds were considered as free float regardless of their shareholding percentage.

Free Float of CROBEX Constituents (%)

Among the 19 CROBEX components 9 have a free float higher than 50%, indicating that a small group of majority shareholders still holds the roughly half of CROBEX components. Of the constituents, newly added Ingra leads the list with a free float of 93.6%.  Adris (preferred) and Atlantska Plovidba follow with 92.3% and 82.4%, respectively. Podravka comes next with a free float of 78.2%.

On the other side, ZABA, almost completely owned by Unicredit (84%), has the lowest free float of 3.4%. Kraš comes next, with a free float of 11.7%, as it is mostly owned by MI Braća Pivac (52.9%). Besides that, Kappa Star Limited has a significant share in Kraš of 30.13%.
It is worth noting that the Prime Market, which is the Stock Exchange’s most demanding market regarding the requirements set before the issuer, requires the issuer to have a free float of at least 35%. If we were to compare CROBEX to that parameter, only 3 companies would not meet the criteria.

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