October 11 (SeeNews) - The Belgrade Stock Exchange has removed soybean processing company Sojaprotein [BEL:SJPT] from its blue-chip BELEX15 index because the company shares have not met the conditions to stay.
The exclusion of Sojaprotein is part of an extraordinary revision of the BELEX15 and took effect as of October 10, the Belgrade Stock Exchange said in a statement on Thursday.
Sojaprotein was also excluded from free-float market capitalisation weighted index BELEXline.
Earlier this week, Serbian agro-industrial conglomerate Victoria Group carried out a squeeze-out of the 1,326,291 shares in Sojaprotein it did not own.
The soybean processing company was one of 11 members of the BELEX15 and accounted for 0.73% of the total capitalisation of the index. The BELEX15 now cosists of ten members.