For today, we decided to present you with a brief overview of free float of the Slovenian blue chips.
In our analysis we considered free float to equal all individual shareholdings lower than 5%, including pension funds and mutual funds.
Among the eight Slovenian blue chips components, four of them have a free float higher than 50%, indicating that the half of the observed Slovenian blue chips are still held by a small group of majority shareholders. Of the observed companies, Krka tops the list with a free float of 83.79%, followed by Cinkarna Celje with a free float of 64.10%. Next comes Petrol with a free float of 58.26%. NLB 20,000,000 shares have all been inserted into LJSE but 63.4% of them are deposited for 63,370,340 GDRs that are floated in London and five of them are worth one share. When looking at all of its share capital NLB has a free float of 56.06% while its shareholders holding above 5% of shares are Republic of Slovenia (25%), Schroders (5.108%), Brandes Investment Partners (6.71%) and EBRD (6.25%).
On the flip side, Triglav has the lowest free float of 30.86%, as it is mostly state owned (ZPIZ Slovenia (34.47%) and SDH (28.09%)).
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 25%. As visible from the graph, all of the observed companies meet the mentioned criterion. Note that if the free float is lower than 25%, this condition is considered fulfilled if at least 10% of shares are in free float while they have to amount to minimum EUR 25m.
