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Komercijalna Banka's shares rise after Serbia receives six valid letters of interest in its sale

Komercijalna Banka's shares rise after Serbia receives six valid letters of interest in its sale Author: Belgrade Stock Exchange. License: All rights reserved.

BELGRADE (Serbia), June 27 (SeeNews) - Serbia's Komercijalna Banka [BEL:KMBN] paced the blue-chip gainers on the Belgrade Stock Exchange on Thursday after the finance ministry said it has received six valid expressions of interest in the sale of the lender, bourse data showed.

Komercijalna Banka's shares closed 3.15% higher at 2,944 dinars ($ 27.9/24.6 euro) as 555 units changed hands.

The finance ministry said on Wednesday that the tender commission in charge of the privatisation of Komercijalna Banka held a session to discuss the received letters of interest and confirmed that six contain all required information. The ministry said last month it is selling at least 50.1% shareholding interest in Komercijalna Banka, including the entire state-owned stake, which then stood at 41.75%.

Bourse data also showed that two block deals in Komercijalna Banka's shares took place on Wednesday with 386,420 shares changing hands in the first one and 772,850 in the second one. The price per share in the two deals was 4,447 dinars, or a total of 5.1 billion dinars. Meanwhile, news agency Tanjug quoted finance ministry officials as saying that the Serbian government bought on Wednesday a 6.8% stake in Komercijalna from DEG and Swedfund for a total of 5.1 billion dinars on the Belgrade bourse.

Serbian insurer Dunav Osiguranje [BEL:DNOS] paced the blue-chip losers, as its share price fell 4.28% to 1,723 dinars.

Cookware maker Metalac [BEL:MTLC] generated the highest turnover on the Belgrade Stock Exchange on Thursday.

A total of 1,088 Metalac shares changed hands, generating a turnover of 2.2 million dinars ($20,621/18,138 euro). The stock closed 0.25% higher at 2,000 dinars.

The BELEX15 index, which tracks the most liquid shares on the Belgrade Stock Exchange, ended the session 0.83% higher at 730.09 points.

The broader BELEXline, a free-float market capitalisation weighted index, added 0.37% to 1,545.25.

The total turnover on the bourse plummeted to 10.1 million dinars on Thursday, down from Wednesday's 5.163 billion dinars, as 78 transactions were carried out.

Trading on the multilateral trading facility (MTP) of the exchange generated a turnover of 4.4 million dinars.

No treasury bonds were traded on Thursday. 

(1 euro = 119.900 dinars)

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