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Weekly Report INTERCITY BROKER JSC WEEKLY REPORT BROKER-DEALER COMPANY Member of Belgrade Stock Exchange t h r d Member of Central Securities Depository and Clearing house J u n e 2 9 – J u l y 3 2 0 0 9 52 Maksima Gorkog St., Belgrade, Serbia Tel: +381 (11) 3083-100, 3087-862; Fax: +381 (11) 3083-150 e-mail: [email protected]; www.icbbg.rs BSE Indices Stagnate in Lower Turnover Overall turnover was reduced compared to the previous week and totaled EUR 4.4m. The blue-chip index BELEX15 Fluctuation of Stock Exchange Indices ended the week on almost the same (-0.01%), while the (%) in the Region (1-m Change) composite index BELEXline decreased 0.28%. Company 5 Simpo announced the opening of 10 new stores by the end of the week and Telefonija publicized decision to sell a majority stake in the ISP BeotelNet. Energoprojekt holding 0 contracted its market maker that will start operating on 3-Jun 9-Jun 15-Jun 21-Jun 27-Jun 3-Jul Monday. It seems that the Government of Serbia is intensifying work on -5 obtaining financial aid from Russia along with the announcement of the execution of the credit arrangements worth EUR 1bln. Srbijagas predicts that by the November 15 storage capacity of -10 underground gas storage in Banatski Dvor will be 300 million cubic meters of gas. AIK banka and Raiffaisen Bank blocked the accounts of all road construction companies in Serbia due to -15 outstanding debts. EUR 33m in soft loans for military hardware, rolling stock producers. Openfund invests in web and other emerging technologies start-up companies in Southeast Europe. -20 Tender announced for construction of second lane of Kragujevac- Batočina road. Members of Spanish AFME in Serbia. Sale talks for BELEX 15 CROBEX SBI 20 canned meat producer Panonka to be opened with Spain's BIRS NEX 20 Friselva. The Serbian petroleum Industry (NIS) to open five new drills near Kikinda. Swedish company Mars to build second factory for mobile phones and X-ray machines in Beocin Business Park. Source: Official Websites Danish pump maker Grundfos and BNP Paribas Real Estate Division Enters Serbia. Belex15 Belexline 650 1,350 600 1,250 550 1,150 500 1,050 450 950 3-Jun 9-Jun 15-Jun 21-Jun 27-Jun 3-Jul 3-Jun 9-Jun 15-Jun 21-Jun 27-Jun 3-Jul C O N T I N U O U S T R A D I N G M E T H O D Most Active Stocks of the Week Top Gainers/Losers of the Week Traded Value Change Change Issuer Symbol Issuer Issuer (in RSD) (%) (%) Planum GP Metals banka PLNM 55,316,665 +11.90% Putevi -17.12% a.d. Beograd a.d. Novi Sad a.d. Užice Lasta a.d. Komercijalna banka a.d. Telefonija KMBN 28,855,728 Beograd +8.94% -13.62% Beograd a.d. Beograd Fidelinka Velefarm AIK banka a.d. Niš AIKB 26,321,943 a.d. Subotica +8.35% a.d. Beograd -9.63% Veterinarski Pupin Tamiš a.d. Pančevo TAMI 6,750,000 zavod +8.00% Telecom a.d. -6.98% Subotica Zemun Informatika Dunav Tamiš a.d. Pančevo TAMI 6,750,000 +5.51% -6.25% a.d. Beograd osiguranje a.d. Business News of the Week News from the Belgrade Stock Exchange (BSE) Victoria Group Launches Takeover Bid For Remaining 41% In ► Telefonija a.d. Beograd (TLFN) – Annual Statement on Operations Blue-chip Sojaprotein Announced Victoria Group was legally obliged to file the bid after it raised its stake ► Energoprojekt holding a.d. Beograd (ENHL) –XXXIII Shareholders in Sojaprotein following a capital hike in May. Victoria Group offers to Meeting Postponed pay RSD 851 dinars (EUR 9.1) per each of the 3,142,609 share it wants to buy between July 3 and July 23, it said in a filing with the ► Soja protein a.d. Bečej (SJPT) – Takeover Bid Belgrade bourse. Sojaprotein share closed 2.81% up at RSD 842 on ► Voda Vrnjci a.d. Vrnjačka Banja (VDAV) – Report on Shareholders Friday. In April, the EBRD made an equity investment of EUR 40m for Meeting 25% in Victoria Group to ensure the stability of the company’s future development. (Source: BSE) ► Energoprojekt holding a.d. Beograd (ENHL) contracted its market maker Slovenian Companies Will Keep On Investing In Serbia Foreign Investors Participation in Total Turnover Slovenian companies will keep on investing in Serbia in spite of the global financial crisis, said the President of the Slovenian Business 100% Club in Serbia, Dmitar Polovina. Retail chain TUS plans to employ more than 320 people by the end of 2009 and to open 8 new facilities. 80% In addition, Mercator plans EUR 30m investment, while Merkur is building a new retail center in Belgrade’, said Polovina. He added that 60% Slovenian FDI in Serbia amounted to EUR 1.63 bln over the period from 2001 to 2008. In addition, around 500 Slovenian companies are 40% engaged in investments in Serbian economy while about 2,700 companies carry out business with Serbia. (Source: Danas) 20% IMF, Serbia To Discuss Higher Budget Deficit In August 0% The IMF Deputy Managing Director and Acting Chair Murilo Portugal 29-Jun 30-Jun 1-Jul 2-Jul 3-Jul said it is too early to decide whether Serbia will be allowed to expand its 2009 budget gap from the 3.0% mark agreed with the global lender. “I am confident that we will reach an agreement when the IMF mission Total FIS b-FIS s-FIS FIB comes to Belgrade in August. If the budget deficit is higher than the figure agreed on in March, the IMF mission will examine whether the Source: Belgrade Stock Exchange reasons were external and whether the government in Belgrade could Foreign investor’s participation in turnover of shares (FIS) on the have prevented it. Only then will we be able to discuss the possibility of buy-side (b-FIS) hit the highest point on June 30 (74.38%) and widening the gap,” he added. The negotiations may be complicated and lengthy but I believe we will reach an agreement that will be their trading in government bonds (FIB) on June 29 (18.3%). On positive for both sides,” Portugal said. (Source: B92) weekly level, foreign investors participated in total b-FIS 27.94% and in total s-FIS 11.66%. Vojvodina Province Authorities To Acquire Metals Banka Bank Republic of Serbia Bonds (Yield) Vojvodina Province authorities should become the owners of 61% of shares of Metals Banka. Based on the Letter of intent sent by the Executive Council of AP Vojvodina the shareholders made the decision Series 26-June-09 3-July -09 % change about issuing of common shares from the 25th issue without public A2010 94.67 94.57 -0.11% offer. According to the decision made by 75% of shareholders in attendance, Metals Banka will issue the shares from the 25th issue in A2011 89.33 89.50 +0.19% total amount of RSD 3,784,550,000, that is, 688,100 common shares A2012 84.40 84.50 +0.12% whose nominal value amounts to RSD 5,500 per share. The buyers of A2013 79.62 79.97 +0.44% shares are: Autonomous Province of Vojvodina, the Executive Council of AP Vojvodina, which intends to buy 636,000 shares (which is about A2014 75.35 76.47 +1.49% 61% of total number of the bank's shares), and insurer DDOR Novi A2015 71.37 72.27 +1.26% Sad, which plans to buy 52,100 shares. The shares are to be paid in Source: Belgrade Stock Exchange cash. The funds collected in that way will be used to increase the basic capital of the bank and to help the bank become fully liquid and solvent, as well as to strengthen competitive position in the market. (Source: Politika) Middle Exchange Rate E U R / R S D Republic of Serbia T-Bills (RSD) At the auction of 3-month T-Bills held on June 30, 2009 the 94.5 entire issuance worth RSD 3bln (EUR 32m) was sold at the interest rate of 13.99% p.a. 94.0 At the auction of 6-month T-Bills held on July 2, 2009 198,798 93.5 T-Bills were sold at the total amount of RSD 1,99bln (EUR 21.3m) equaling 99.4% of the issuance volume. The securities 93.0 were sold at the interest rate of 13.99% p.a. 92.5 Achieved discount rate of 13.99% p.a. while the key policy rate remains at 13% indicates the good yield of these securities. 92.0 The next auction of 3-month government securities totaling 3-Jun 9-Jun 15-Jun 21-Jun 27-Jun 3-Jul RSD 3bln will be held on July 7, 2009 and the next auction of 6- month T-Bills worth RSD 2bln is scheduled for July 9, 2009. Source: National Bank of Serbia DISCLAIMER: The information and any opinions, estimates and forecasts have been obtained from sources believed by City broker to be reliable but without representation or warranty express or implied is made by us as to their accuracy or completeness. This report is provided only for information purposes. Investors should always research companies and securities before making any investments. Nothing herein should be construed as an offer or solicitation to buy or sell any security. The information, opinions, estimates and forecasts may well be affected by subsequent changes in market conditions. This document may not be reproduced in whole or in part or published for any purpose.
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