Public shares issue of Telefonija finally begins
Both indicesrecorded increase during previous week. BELEX15 gained 0.8% while BELEXline added 0.74% in value.
Several banks from Moscow showed interest in taking part in privatization of Serbian banks, said Serbian Finance Minister Cvetkovic. Cvetkovic presented the Russian bankers with legal regulations and privatization framework and the Russian side completely agreed to the terms of privatization. Cvetkovic announced that the Bank of Moscow has expressed interest to invest in Agrobanka and Srpska Banka. Agrobanka soared by 4.68% over the last five days ending at RSD 33,496 on Friday.
AIK Bank and Energoprojekt Holding appeared in regional indexes. The southeastern, central and eastern European indexes will see AIK Bank and Energoprojekt shares listed. At the same time, AIK made it to the banking index for southeastern, Central and Eastern Europe. The participation of shares traded at the Belgrade Stock exchange (BSE) in regional markets recognizes the liquidity achieved so far, and adds to the promotion of the Serbian capital market. AIK closed at RSD 11,300 on Friday while Energoprojekt closed at RSD 3,250 recording very low volatility in the last five days.
General Manager of Pirot-based company Tigar, said that signing of the contract with investment fund Greenhouse investments on joint processing of waste tires was expected at the end of September or at the beginning of October. Nikolic stated that Tigar and British investment fund had already signed the letter of intent, saying that he can not talk about proportion of capital in that business before the obligatory documents are signed. However, he reminded that the policy of Tigar was to have majority ownership in industrial capacities. According to Nikolic's words, the unit for processing of waste tires will be situated in Pirot and between EUR 7 and 7.5 mln will be invested in technical equipping, while the rest of the money will be invested in penetration on European and world market. Tigar gained 0.69% over the last five days.
Telefonija announced public invitation for subscription and payment of 35,000 shares at privileged price of RSD 13,500 per share with shareholders record day as of September 25, 2007. Telefonija closed at RSD 13.490 pre share on Friday, just RSD 10,00 bellow privileged price.
Re-elected central bank governor Radovan Jelasic disagreed that Serbia's inflation will reach 8.5 percent. Jelasic voiced disagreement with Finance Minister Mirko Cvetkovic's estimate, which sets the inflation figure for 2007 at two percent up compared to the original estimate. Jelasic said that "the most important thing now is what the government will do to reduce the projected inflation rate of 6.5 to a minimum." He added that by the end of the year, the base inflation will reach 4.5 instead of the projected 4 percent.
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Press Release
First Serbian Stocks in Regional indices
From Septebmer 24th 2007 for the first time, two Serbian companies are going to be included in index basket of regional indices calculated by the Wiener Borse. In calculation of South-east Europe Traded index – SETX as well as Central, Eastern and south-eastern Europe – CECExt, AIK Banka (AIKB) and Energoprojekt Holding (ENHL) are included. Additionally, AIK Banka is included into index basket of banking sector index CECE banking (CECE BNK). Inclusion of stocks traded on the Belgrade Stock exchange into regional indices shows the significant growth in the market liquidity achieved in the previous period. It will also add to the visibility of the Serbian capital market.
Energoprojekt holding a.d. Beograd [BELEX: ENHL]: Energoprojekt Participates in Belgrade Ring Road Construction
Serbian Minister without Portfolio in charge of implementing the National Investment Plan (NIP) Dragan Djilas said that the government should adopt the proposal of its finance committee that an additional RSD 300 million is allocated from the NIP for finishing works on the ring road around Belgrade. According to Djilas, this year an amount of RSD 720 million from the NIP was envisaged for the ring road and all planned funds were spent for that purpose. The Minister said that Niskogradnja and Energoprojekt have claims of RSD 135 million. The works on the ring-road should be finished by September 2008, but constructors think that the ring road could be finished already by May if there is enough funding, said Djilas.
Telefonija a.d. Beograd [BELEX: TLFN]: Public Invitation for Subscription and Payment
Telefonija announced public invitation for subscription and payment of 35,000 shares at privileged price of RSD 13,500 per share with shareholders record day as of September 25, 2007. Subscription at privileged price starts on October 02, 2007 and lasts until October 22, 2007 while subscription with no privileged price, at RSD 15,000 per share, starts on October 23, 2007 and ends on November 12, 2007.
Agrobanka a.d. Beograd [BELEX: AGBN]: Bank of Moscow Still Interested in Agrobank
Serbian Minister of Finance Mirko Cvetkovic expressed satisfaction with contacts made in Sochi in the past two days with representatives with Russian financial organizations. Cvetkovic told that Russians are interested in operations on the Serbian financial market, adding that there is mutual interest of Russian businesspeople and bankers in Serbia. He added that certain banks from Moscow showed interest in taking part in privatization of Serbian banks. Cvetkovic presented the Russian bankers with legal regulations and privatization framework and the Russian side completely agreed to the terms of privatization. Cvetkovic announced that the Bank of Moscow is interested in investment in Agrobanka and Srpska Banka.
Cacanska banka a.d. Cacak [BELEX: CCNB]: Placements Reached RSD 6.9 bln
Cacanska banka managed to increase placements to RSD 6.9 bln (EUR 86.2), 70% up y/y basis, said Cacanska’s CEO, Mr Dragan Jovanovic, adding that total retained profit in 2007 amounted RSD 332 mln (EUR 4.15 mln).
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WF 24-28Sept2007.pdf, 167 Kb
