Today, we decided to present you with a brief overview of SBITOP constituents’ free float.
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 SBITOP Constituents (%)
Among the SBITOP constituents, 4 of them have a free float higher than 50%, while the other 4 constituents are still mostly held by a small group of majority shareholders. Of the constituents, Krka has by far the highest free float amounting to 73.1%. On the other hand, Sava Re, Luka Koper, Telekom Slovenije and Triglav have less than 50% of free float. Sava Re and Luka Koper both have a free float of 37.9%. They are followed by Luka Koper with a free float of 31.9% with Triglav being last on the list with free float amounting to 30.1%.
Comparing both medians and mean of free float of CROBEX and SBITOP constituents, as main indices on ZSE and LJSE, a similar situation occurs. Free float of SBITOP constituents median amounts to 45.2%, while CROBEX median for the same parameter amounts to 47.5%. Meanwhile, the mean for SBITOP constituents amounts to 45.2%, while the mean for CROBEX amounts to a slightly higher number of 47.5%. The important thing to stress out is that the data range for CROBEX constituents is wider and has a higher deviation than the data range for SBITOP constituents, which shouldn’t come as a surprise as CROBEX has more constituents within the index itself.
We should emphasize that the Prime market is the most demanding market on the Ljubljana Stock Exchange regarding the requirements set before the issuer. It is worth noting that it requires the issuer to fulfill additional liquidity criteria, which will result in greater volume, a higher number of trades and therefore reducing “hidden” costs (like high bid-ask spread resulting from illiquidity).
