Belgrade bourse delists Serbia's Jadran

Jadran's shares have been delisted as of April 8 after the company submitted a request with the bourse at the end of March, the bourse said in a statement on Monday.

Last month, Jadran's shareholders approved a decision to delist its shares following a squeeze-out by local wood packaging maker Banija-Pal, which owns 100% of Jadran.

Jadran turned to a net loss of 12.6 million dinars ($120,000/111,000 euro) in January-June 2023, from an 8.8 million dinars net profit in the prior year period. Its revenue plunged to just 2.0 million dinars from 37.8 million dinars in the period under review, according to its latest available financial statement.

Temerin-based Banija-Pal was founded in 2005. It's owned by local entrepreneur Milorad Ostojic, according to trade registry data.

(1 euro = 117.136 euro)