The Securities Commission of Serbia has announced that at its 99th session on January 16, 2025, it issued a decision instructing the Belgrade Stock Exchange (BELEX) to extend the temporary suspension of trading in the shares of NIS AD Novi Sad until the reason for the suspension is resolved.
The decision, adopted by the Listing Commission of the Belgrade Stock Exchange on January 21, was published on the BELEX website. The initial suspension was set to last until January 28, but the new ruling extends the suspension until the Securities Commission of the Republic of Serbia informs the Stock Exchange that the conditions for resuming trading in NIS shares have been met, or that the reasons for the suspension have been resolved.
As a result, orders for trading in NIS shares will remain suspended until the temporary suspension ends.
Previously, on January 14, the executive director of the Stock Exchange, Lazo Ostojić, explained that the suspension was due to the inclusion of NIS AD Novi Sad on the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) Specially Designated Nationals (SDN) list, which imposes sanctions on the company. These sanctions were expected to impact NIS’s operations and the market value of its shares, which are traded on the regulated market of the Belgrade Stock Exchange.
The Stock Exchange’s decision to extend the temporary suspension remains in effect until the reason for the suspension is resolved. An appeal against this decision can be filed with the Stock Exchange Supervisory Board within eight days of receiving the decision, but the appeal will not delay its execution.