Serbian blue-chip BELEX15 was up 2.9% w/w, which is pretty solid jump. This was primarily due to additional advance at Komercijalna Banka. The bank gained 9.5% over the last five trading days, even though we saw new evenest about this name. This is probably about local investors anticipation that current price level is still acceptable, thus potential buyer will be ready to offer takeover premium during incoming acquisition process.
The most traded name on weekly basis was NIS, with RSD 20.7m in volume. The company announced joint-venture project on wind-farm, with Switzerland-based MET group. Construction works will begin in 2019, so the wind farm is expected to be fully operational in 2021. NIS plans to invest 140 million euro in the project. The stock was nearly flat on a weekly basis.
Metalac (MTLC), was also among most traded name, even though in absolute terms it was not so huge volume – RSD 8.9m. This company announced it regular GA for 24th April this year. The agenda includes decision on dividend payment. Proposed amount is RSD 85 per shares, gross. This bears 4.1% yield on a current market price, while record date is 14t April 2019.