BELGRADE (Serbia), September 19 (SeeNews) – Serbian share prices continued to fall in lower turnover on Wednesday dragged down by the ipo of Croatian telecom T-HT which drained liquidity, brokers said.
The Belgrade Stock exchange (BELEX) blue-chip BELEX15 index was down 0.37% to 2,742.71 points, while the broader BELEXline lost 0.47% to 4,356.21. The joint SRX index of the bourses in Belgrade and Vienna went down 0.47% to 1,526.23. Total BELEX turnover fell to 359 million dinars ($6.3 million/4.5 million euro) on Wednesday from 476 million dinars on Tuesday.
“The market has been sliding in the last days mainly because of the Croatian telecom’s ipo,” Danko Knezevic from Delta Brokerage in Belgrade told SeeNews. Croatian investors, among the big players on the Belgrade stock market, have been cashing in shares on the BELEX to be able to take part in the telecom’s ipo in Zagreb.
On Monday, the Croatian government offered to investors 20% to 23% of the shares in T-HT as part of the company's privatisation. The ipo is expected to be worth around 6.0 billion kuna ($1.144 billion/819.9 million euro). Trading in T-HT stock will commence on the bourses in Zagreb and London on October 5. Deutsche Telekom owns 51% of the T-HT group.
“Nothing special happened today in the trading,” Knezevic said.
Engineering consultancy Projektomontaza was the best traded BELEX company on Wednesday, surging 18.68% to 1,620 dinars in 51 million dinars of turnover. Among the blue-chips, the biggest in turnover was engineering holding Energoprojekt, dropping 0.74% to 3,199 dinars in some 22 million dinars of turnover.
(1 euro = 79.4779 dinars)
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