In May CROBEX increased by 2.08%, ending the month at 1,932.84 points
The total equity turnover downward trend has been overturned, in May the turnover reached EUR 28.2m (HRK 212.7m) which is an increase of 87% MoM. This translates into a daily average of EUR 1.3m (HRK 10.1m), showing an increase of 47% YoY.
Out of the total value traded (excluding block transactions) in May, Atlantska Plovidba generated 18% of the total equity traded on ZSE. Podravka, Valamar Riviera, Adris Grupa followed Atlantska Plovidba generating 11% of total equity trade each. Next comes HT with 10%. The top five traded companies accounted for 62% of the total value traded.
When looking at the equity market cap of ZSE, once can note a decrease to HRK 129.3m, due to the delisting of PBZ, the third largest company by market share on ZSE.
Among the CROBEX constituents, Atlantska Plovidba performed at best level, with a share price increase of 36.3%. AD Plastik and Podravka also noted a solid increase of 7.2% and 6.5%.
On the other side, Dalekovod noted the highest share price decrease of 78.2% closing the month at HRK 1.35 per share and, consequently, CROBEXkonstrukt fell by 36.13%. To read more about the mentioned decrease click here.
The main index of ZSE, CROBEX continued its positive sentiment from last month, ending May at 1,932.84 points (+2.08%).
By securing the loan, Telekom Slovenije has ensured the necessary liquidity for the repayment of issued bonds in the amount of EUR 100m that fall due for payment in June 2021.
Telekom Slovenije published an announcement on the LJSE announcing that they have signed a long-term syndicated loan agreement in the amount of EUR 130m with a syndicate of banks organised by NLB and comprising Banka Intesa Sanpaolo, NLB, SKB banka and UniCredit Banka Slovenija
By securing the aforementioned long-term loan, the company notes that Telekom Slovenije has ensured the necessary liquidity for the repayment of issued bonds in the amount of EUR 100m that fall due for payment in June 2021. A portion of the loan will also be earmarked for investments in connection with the continued implementation of the Company’s established strategy.
The syndicated loan has a maturity of seven years and is divided into three tranches, two in the amount of EUR 50m and one in the amount of EUR 30m, as follows: tranche A with the repayment of principal in equal semi-annual instalments, tranche B with a lump-sum repayment of principal and tranche C with a combination of semi-annual instalments and a lump-sum repayment of principle.
At the current share price, dividend yield is 21%.
On the 28th of May 2021 the Pan-Slovenian Shareholders’ Association (VZMD), a shareholder of Intereuropa, submitted a counterproposal to the proposed resolution that stated that the distributable profit of Intereuropa, in the amount of EUR 9.9m shall remail undistributed.
The new proposal suggests that EUR 6.6m from the available distributable profit should be used to pay a dividend in the amount of EUR 0.24 to all shareholders. Ex-dividend date 16th of August 2021.
To back up their counterproposal they refer to an article which states that a resolution of the General Meeting of Shareholders is open to challenge if profit in the amount of at least 4% of share capital is not distributed to shareholders.
The EUR 0.24 dividend would present a dividend yield of 21%. We also note that Intereuropa did not have dividend payouts in the past years.