Today, we decided to present you with a brief overview of CROBEX constituents’ free float.
In our analysis we considered free float to equal all individual shareholdings lower than 5%, while pension funds, UCITS funds and government were considered as free float regardless of their shareholding percentage.
Free Float of CROBEX Constituents (%)
Among the 18 CROBEX components half of them have a free float higher than 50%, indicating that the half of CROBEX components are still held by a small group of majority shareholders. Of the constituents, there are four companies that have free float over 90%. On the top of the list are Podravka and Končar with a free float of 100%, followed by Ingra with 93.61% and Adris (preferred) with 91.84%.
On the other hand, ZABA and Kraš have less than 10% of free float. ZABA has free float of 3.80% and is almost completely owned by Unicredit 84.48% and Allianz 11.72%, while Kraš has free float of 8.69%, Mesna Industrija Braća Pivac has the majority share by 54.94%.
Prime market is the most demanding market on the Zagreb Stock Exchange regarding the requirements set before the issuer. It is worth noting that it requires the issuer to have a free float of at least 35%. If we were to compare CROBEX to that parameter, only 3 companies (ZABA, Kraš and Brodogradilište Viktor Lenac) would not meet the criteria.
