Yesterday, SBITOP observed an increase of 1.19% after dropping by 2%.
Two days ago, amid Evergrande Crisis, almost all global equity markets ended the trading day in red. SBITOP noted the worst performing day since the beginning of this year, dropping by 2.03%.
The only constituent ending the day in green was Telekom Slovenije, which observed a 1.13% increase. Sava Re witnessed the biggest drop of 4.14%, followed by Petrol (-2.52%) and Krka (-2.24%).
Yesterday LJSE noted a rebound, with SBITOP up noting an increase of 1.19%. Of the SBITOP constituents, NLB showed the biggest increase of 2.82%, followed by Sava Re which grew by 2.75%. Triglav and Krka showed a slight increase of 1.53% and 0.92%.
On the downside, Telekom Slovenije noted the biggest drop, closing at EUR 52 per share (-2.99%).
The first trading day on the ZSE will be 23 September 2021.
Span published an announcement on the Zagreb Stock Exchange that the company’s shares were listed on the exchange. As a reminder, the IPO price was confirmed at HRK 175 per share, indicating that the company sold shares to qualified and retail investors for the amount of HRK 101.2m. To be specific, 578.2k shares were offered, representing 29.5% of the share capital. We also note that the oversubscription reached 40% at the price of HRK 175 per share.
Breaking down the allocation, qualified investors were allocated 55.9% of the transaction amount, while retail investors were allocated 35.6% and employees were allocated 8.5%.
The first trading day on the ZSE will be 23 September 2021.
The mentioned price represents the upper range of the offering (HRK 160 – HRK 175). The IPO price translates into a market cap of HRK 343m or P/E (2020) of 46x and EV/ EBITDA (2020) of 11.4x. According to the company’s prospectus, Span operated in 2020 with sales of HRK 613.8m, EBITDA of 31.5m (EBITDA margin at 5.1%), and a net profit of HRK 7.45m (profit margin 1.2%).
Span Financials (2018 – 2020) (HRK m)
The delivery of all ships is scheduled for 2023.
Atlantska Plobidba published an announcement on the ZSE stating that the Management Board has given consent for the construction of two ships and two optional bulk carriers of 82,000 DWT in order to modernize and renew the fleet. The aforementioned was concluded with Jiangsu Hantong Ship Heavy Industry, while the ships correspond to IMO Tier III and EEDI Phase 2 standards.
The decision on the activation of option contracts will be made within the deadlines stipulated in the contract. The company notes that the total value of the investment is approximately USD 137m, while the delivery of all ships is scheduled during 2023.
As a reminder, in the first 6m of 2021, Atlantska Plovidba noted a very solid result with sales increasing by 71% YoY and net profit increasing by as much as 79%. The company’s share is also currently the best performing CROBEX constituent in 2021 (+221.6% YTD).