The past holiday trading week on the Serbian stock market saw a significant decline in the Belex15 index, which dropped by 1.5%, closing at 1,135.1 points. This came alongside an increase in turnover in bonds and shares outside the index basket. The total trading volume reached 1.6 billion dinars (approximately 13.7 million euros).
Shares within the Belex15 index experienced very weak trading activity. Following the dividend cut-off, Dunav osiguranje (DNOS) continued to slide, with a drop of 9% to 1,330 dinars. The turnover for this stock was only 0.7 million dinars. On the other hand, Gornjomilanovac Metalac (MTLC), which recently announced a raised dividend of 95 dinars per share, saw a modest gain of 1.2%, rising to 1,984 dinars, with a trading volume of 1.2 million dinars. Messer Tehnogas (TGAS) saw no change in its share price, holding steady at 33,500 dinars, with a relatively low turnover.
However, the busiest stock of the week was Jugoprevoz (JGPK) from Kruševac, which recorded a turnover of 294.7 million dinars after almost 50% of the company’s shares were traded. This surge in activity came after Knez Petrol from Banja Luka increased its stake in the company to 74.9%, signaling its intention to take over. Similarly, Strela from Obrenovac announced plans to acquire the remaining 83.2% of shares in Lasta (LSTA), in which it currently holds 16.8%. The majority of these shares are controlled or managed by the state.
These developments reflect significant market activity and potential shifts in ownership, particularly with the impending takeovers, which could lead to further consolidation in the Serbian market.
