IC Market Espresso 2 OCT 2019

 
Activity on the BELEX in September 2019

In September, the Belgrade Stock Exchange observed an average daily turnover of EUR 0.138 m (+20.6% YoY).

The Belgrade Stock Exchange reported a turnover of EUR 2.8m in September 2019 (when observing solely equity), which represents an increase of 26.6% YoY. This would translate to an average daily turnover of EUR 0.138m (+20.6% YoY).

In September, the most traded share (excluding block transactions) was Komercijalna Banka (EUR 1.13m), whose share price recorded an increase of 3.81%. As a reminder, in September, Komercijalna Banka received 4 non-binding bids regarding its privatization. According to the Serbian media, NLB gave the best bid among 3 other banks for the sale of Komercijalna Banka. Allegedly, NLB offered EUR 450m for 83.2% of the total shares, which are owned by the Republic of Serbia.

The second most traded share was NIS (EUR 0.36m), whose share price observed a slight decrease of 0.59%. Galenika Fitofarmacija follows with a turnover of EUR 0.18m.

When observing gainers of the BELEX 15 index, Jedinstvo recorded the highest increase of 10.35%. Next come Galenika Fitofarmacija and Komercijalna banka, whose share price increased by 8.77% and 3.81%, respectively.

On the flip side, Sojaprotein recorded the largest decrease of 10.56%. As a reminder, in September, Sojaprotein held an Extraordinary Shareholder Meeting, in which the majority shareholder, Victoria Group, approved the squeeze-out of the minority shareholders.

Turning our attention to BELEX15, the index observed an increase of 0.81% (751.08 points), which is the fourth time this year that the index ends the month in green.

Transgaz Signs a Cooperation Agreement to Start a Joint Venture

Transgaz signed a Cooperation Agreement with the Central European Gas Hub AG on the establishment of Romanian Gas Hub, joint venture to become the operator of the Romanian Virtual Trading Point.

Transgaz published a document on the Bucharest Stock Exchange announcing that they have signed a Cooperation Agreement with the Central European Gas Hub AG on the establishment of a Romanian stock company, “Romanian Gas Hub”, joint venture to become the operator of the Romanian Virtual Trading Point (VTP).

Following to the conclusion of the Agreement, the actions for the incorporation of the new company Romanian Gas Hub will start and it will provide professional gas hub services for Romania (including trading and ancillary services) and shall become the operator of the Romanian Virtual Trading Point (VTP). Note that Transgaz will hold 51% of the shares, while CEGH 49%.

Transgaz states that Romanian Gas Hub aims at the construction of a new vision on the gas market, i.e. the construction of an open, liquid, responsible, closely monitored market allowing for the means to support the vulnerable consumers, solely dispatched in order to prevent emergency crises and fully integrated with the European Energy Union. The Hub entails the redesigning of all gas sector activities for a single purpose, particularly to facilitate gas trading to obtain the most effective gas prices at a certain point in time and to ensure quality services.