SARAJEVO (Bosnia and Herzegovina), February 2 (SeeNews) – Several banks are considering the sale of their shareholdings in Bosnia's Banja Luka Stock Exchange following legislative changes which have altered the way the market operates, local media reported on Thursday.
In December last year, Bosnia's Serb Republic adopted legislative changes, which revoked the provision that the stock exchange must have at least 5 shareholders, and allowed physical persons to become shareholders in the bourse.
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Several banks are considering the sale of their shares in the bourse, having all received offers following the change, news portal Capital reported.
Banja Luka Stock Exchange's capital is divided into 2,660 shares owned by 11 shareholders. The largest among them, with an 18.91% share, is the local unit of Slovenia's Nova Ljubljanska Banka (NLB).
Banka Srpske, Bobar banka, Eurobroker, Nova banka, and the local units of Addiko Bank (former Hypo banka), Unicredit bank and Sberbank own 9.47% each.
Sino RS Investment Group, established by Hong Kong-based Sino RS Investment Group Limited, may be interested in taking control of the Banja Luka Stock Exchange, Capital said, citing unofficial data.
Analysts have said that the changes pertaining to the way the bourse operates may be dangerous, because it can now fall into the hands of only one person.