2016 Trading Summary
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2016 Trading Summary Zagreb, January 2017. This publication was prepared and published by the Zagreb Stock Exchange Inc., Ivana Lučića 2a/22, Zagreb (hereinafter: Exchange). The publication is intended to provide information to the public and shall not be deemed to constitute an offer or invitation to buy or advice on trade or investment in financial instruments or opinion on the terms of the purchase or sale of any financial instrument mentioned therein whether favourable or not, nor should it be relied on as a substitute for own judgement or assessment by any user of this publication. The Exchange waives responsibility and liability for any damage which might arise out of the use of information contained therein. Further use of information available in this publication is permitted by the Exchange provided that the source is cited. Copyright © 2017. Zagreb Stock Exchange Zagreb Ivana Lučića 2a/22 All rights reserved. Content: 1 INTRODUCTION ....................................................................................................................... 1 1.1 A WORD FROM THE MANAGEMENT BOARD ........................................................................................................... 1 1.2 ZAGREB STOCK EXCHANGE IN 2016 ..................................................................................................................... 3 2 TRADING .................................................................................................................................. 4 2.1 MONTHLY TRADING OVERVIEW ........................................................................................................................... 5 2.2 INDICES .......................................................................................................................................................... 6 2.3 TURNOVER AND MARKET CAPITALIZATION BY SECTOR ............................................................................................. 9 2.4 STOCKS WITH THE LARGEST MARKET CAPITALIZATION ........................................................................................... 11 2.5 STOCKS WITH THE LARGEST FREE FLOAT MARKET CAPITALIZATION .......................................................................... 12 2.6 MOST ACTIVE STOCKS BY TURNOVER ................................................................................................................. 13 2.7 STOCKS WITH THE HIGHEST TURNOVER VELOCITY ................................................................................................. 14 2.8 HIGHEST DAILY TURNOVER ............................................................................................................................... 14 2.9 HIGHEST ORDERBOOK TRADES IN STOCKS ........................................................................................................... 14 2.10 STOCKS PERFORMANCE ................................................................................................................................... 15 2.11 STRUCTURED PRODUCTS PERFORMANCE ............................................................................................................. 17 2.12 BONDS PERFORMANCE .................................................................................................................................... 18 2.13 OTC TURNOVER ............................................................................................................................................. 19 3 MEMBERS .............................................................................................................................. 21 3.1 TOP 10 MEMBERS BY EQUITY TURNOVER ........................................................................................................... 21 3.2 TOP 10 MEMBERS BY STRUCTURED PRODUCTS TURNOVER .................................................................................... 21 3.3 TOP 10 MEMBERS BY BOND TURNOVER ............................................................................................................. 21 3.4 1.12. TOP 10 MEMBERS BY TOTAL TURNOVER .................................................................................................... 22 3.5 TOP 10 MEMBERS BY NUMBER OF TRADES ......................................................................................................... 22 3.6 STOCKS WITH MARKET MAKERS ........................................................................................................................ 22 4 CORPORATE ACTIONS ........................................................................................................... 23 4.1 NEW LISTINGS ............................................................................................................................................... 23 4.1.1 Equities .................................................................................................................................................. 23 4.1.2 Bonds ..................................................................................................................................................... 23 4.1.3 Structured Products ............................................................................................................................... 23 4.2 CHANGE OF MARKET SEGMENT ......................................................................................................................... 24 4.3 DELISTINGS ................................................................................................................................................... 24 4.3.1 Equities .................................................................................................................................................. 24 4.3.2 Bonds ..................................................................................................................................................... 24 4.4 LISTING OF ADDITIONAL ISSUES .......................................................................................................................... 27 4.4.1 Equities .................................................................................................................................................. 27 4.5 CAPITAL DECREASES ........................................................................................................................................ 27 4.6 CHANGE OF NOMINAL VALUE AND CAPITAL INCREASES .......................................................................................... 28 4.7 SECURITIES CONVERSION .................................................................................................................................. 28 5 LISTED FINANCIAL INSTRUMENTS ........................................................................................ 29 5.1 EQUITIES ....................................................................................................................................................... 29 5.2 BONDS ......................................................................................................................................................... 33 Zagreb Stock Exchange 1 Introduction 1.1 A word from the Management Board The year 2016 closed with very good trading indicators, mirrored predominantly in double-digit growth of almost all indices. However, it will also be remembered as a high-intensity year from the aspect of numerous events and projects. The Zagreb Stock Exchange began 2016 as the owner of the Ljubljana Stock Exchange following the completion, towards the very end of 2015, of its acquisition which highlighted the onset of consolidation processes in the region initiated by the Zagreb Stock Exchange. SEE Link, a regional securities trading platform established by the Bulgarian, Macedonian and Zagreb Stock Exchanges and supported by the European Bank for Reconstruction and Development, became fully operational late in March. By the end of the year, the Belgrade and Ljubljana Stock Exchanges also joined the SEE Link network, enabling SEE Link to facilitation an integration of the regional capital market with a capitalisation of more than USD 35 billion in almost 500 securities, listed on five exchanges, in order to spur liquidity and enable a more simple and efficient access to investors and local brokerages. Three exchanges which signed agreements to join the SEE Link network – the Athens, Banja Luka and Montenegro stock exchanges – are preparing for their operational link-up, while some other regional exchanges have also expressed interest to join. Currently, there are 27 investment companies, i.e. brokerages from Bulgaria, Croatia and Macedonia, linked to the platform and seven brokerage members of the Belgrade Stock Exchange still undergoing the process. The ZSE Academy, an educational unit of the Zagreb Stock Exchange, marked the sixth anniversary of its operation in May. To date, more than 5 600 individuals have attended various forms of education delivered by the Academy. It has organised more than 320 events, while also launching the first certified programme for investor relations managers – unique in Croatia and the region – which was completed by its third generation of participants In 2016. in the past few years, the ZSE Academy has put a major emphasis on financial literacy of the young, and more than 1 000 of them from various parts of Croatia and abroad visited the Academy in 2016 alone. It also cooperates with student associations by providing various benefits