Following completion of the transaction with EBRD and IFC Capitalization Fund, the Republic of Serbia will own 83.2% of the ordinary shares of the Bank.

European Bank for Reconstruction and Development (EBRD) has published a statement that the Republic of Serbia has reached an agreement with EBRD and IFC Capitalization Fund concerning the sale of 34.58% of the ordinary shares in Komercijalna Banka.

Following completion of the mentioned transaction, the Republic of Serbia will own 83.2% of the ordinary shares of the Bank. As a reminder, the transaction follows the acquisition by the Republic of Serbia of 6.89% of ordinary shares from Swedfund and DEG which was completed in June 2019.

The transaction completes the consolidation of the ownership structure of the Bank and will allow the Republic of Serbia to offer for sale a total of 83.2% of the Bank’s shares to enable the privatization of the Bank under the ongoing privatization process.

As a reminder, the deadline for the submission of non-binding bids has been extended from 23 August to 6 September 2019. To read more about it click here.

Besides that, the company recently published their H1 2019 results, which can be read about here.

Trading statistics for August 2019 show an average daily turnover of EUR 7.74m (+28.3% YoY).

The Bucharest Stock Exchange published their trading statistics for August 2019, showing an average daily turnover of EUR 7.74m. This represents an increase of 28.3% YoY.

When observing the top traded shares, one can notice that Fondul Proprietatea recorded the highest turnover of RON 290.5m. Banca Transilvania follows with a turnover of RON 176.7m. Electrica and BRD Bank come next with a turnover of RON 55.3m and RON 40.7m, respectively.

Of the BET index components, Nuclearelectrica observed the highest share price increase in August of 12.09%. Sphera Franchise Group follows with an increase of 5.37%. Next comes Fondul Proprietatea with an increase of 4.58%. On the flip side, Alro observed a decrease of 8.06%.

In August, the BET index observed a slight increase of 0.34%, amounting to 9,235.72 points.

Average Daily Turnover on the BVB (January – August 2019) (EUR m)

The Warsaw Stock Exchange released a statement yesterday in which they announced the formation of a new equity index which will include the largest and most liquid stocks listed on the exchanges of the Visegrad Group countries, Croatia, Romania and Slovenia.

The index portfolio will include more than 100 of the most liquid stocks of companies listed on Central and Eastern European exchanges in Bratislava, Bucharest, Budapest, Ljubljana, Prague, Warsaw and Zagreb. Stocks participating in the index have to meet the liquidity criterion: average value of trading per session of at least EUR 90,000 in six months period. The participation of stocks in the index will depend on their free float and will be capped according to the 5/10/40 rule (i.e. participation of the biggest stock is capped at 10%, aggregate participation of stocks weighing more than 5% is capped at 40%). The participation of stocks from any single country in the index portfolio will be capped at 50% (in practice, the cap applies only to stocks listed on GPW).

Note that two Croatian and four Slovenian companies have been included in the index thus far. The Croatian representatives are HT and Valamar, while Slovenian companies include Krka, NLB, Petrol and Triglav. To view all the remaining index constituents please click here.