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Serbia's Ikarbus lists on Belgrade Stock Exchange

Author Radomir Ralev
Serbia's Ikarbus lists on Belgrade Stock Exchange Source: Ikarbus

BELGRADE (Serbia), January 23 (SeeNews) - The Belgrade Stock Exchange said that it has admitted to trading all 2.9 million shares of Serbian bus maker Ikarbus [BEL:IKRBG].

The shares will start trading on the Open Market of the Belgrade bourse on January 27, the stock exchange operator said in a statement on Wednesday.

The indicative reference price per share for the first trading session is 50 dinars ($0.47/0.43 euro).

In June 2019, Ikarbus cancelled a total of own 381,512 ordinary shares with a nominal value of 600 dinars apiece, and subsequently issued 2,901,482 ordinary shares with an accounting value of 1,000 dinars apiece in accordance with a plan for the restructuring of its capital.

Chinese bus manufacturer Yin Long Group has repaid the outstanding debt of Serbian sector player Ikarbus and will soon take control of the company, a Serbian government official said in March. 

Ikarbus operates a factory in Belgrade's urban municipality of Zemun with a manufacturing capacity of 250 vehicles per year. The company currently produces low-floor and articulated city buses, as well as intercity buses.

(1 euro = 117.551 dinars)