The Republic of Serbia increased its share in the ownership of the Belgrade Stock Exchange to 77.58 percent after the registration of newly issued shares aimed at recapitalization, writes Biznis.rs. At the same time, the Athens Stock Exchange halved its share in our stock exchange and now owns 4.75 percent of the capital of the Belgrade Stock Exchange.
The state subscribed 4,802 shares with a nominal value of 30,200 dinars, issued on the basis of the Decision adopted at the extraordinary session of the Stock Exchange Assembly on the issuance of ordinary shares in order to increase the basic capital with new contributions.
According to that decision, according to Biznis.rs, the Belgrade Stock Exchange issued 9,287 shares with a nominal value of 30,200 dinars, while their issue price was 48,811 dinars.
The deadline for registration and payment of new shares, which could only be purchased by existing shareholders, expired on February 26.
The total value of the new issue is 280.47 million dinars in nominal terms, or 453.3 million dinars calculated according to the issue price.
New ownership structure
The ownership structure of the stock market changed after this recapitalization to the extent that the state significantly increased its participation.
Now the Republic of Serbia owns 77.58 percent of the capital, while at the end of January it had 51.71 percent of shares.
The five largest shareholders still include two large bankrupt state banks – Beogradska and Beobanka with six and 4.7 percent of shares respectively. And their shares were reduced compared to the end of January, when they amounted to 12.98 and 10.34 percent.
What can be a disappointment is the reduction of the share owned by the Athens Stock Exchange, which joined the Belgrade Stock Exchange in 2021 “in order to jointly take advantage of business opportunities in the era of accelerated globalization.”
The Athens Stock Exchange previously owned 10.24 percent of the shares, and after the completion of the recapitalization, today it owns 4.75 percent.
The portal reminds that the director of the Belgrade Stock Exchange, Ivan Leposavić, met with Andreas Daskalakis, director of the department for new markets and international business development of Athex Exchange Group, the company that owns the Athens Stock Exchange, on January 31.
“We explored exciting opportunities for further cooperation and new joint initiatives with our valued partners from Greece,” announced the Belgrade Stock Exchange via its official LinkedIn profile.
Daskalakis is still a member of the Supervisory Board of the Belgrade Stock Exchange.
All other shareholders of our Stock Exchange now have less than two percent of shares, including Banka Poštanska štedionica as well as Dunav osiguranje, Mobtel – PTT, whose sole owner is the Post of Serbia and three other banks in bankruptcy – Nova Agrobanka, Razvojna banka Vojvodina and Univerzal bank.
