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Corporate Responsibility Survey - Serbian C ase -. Vesna Ilić Ljušić Business Operations Belgrade Stock Exchange Skopje , May 19 , 2009. Content:. Facts Market structure Trading statistics BELEX vs. SEE Survey - Corporate responsibility Conclusion. Facts:.

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corporate responsibility survey serbian c ase

Corporate Responsibility Survey -Serbian Case-

Vesna Ilić Ljušić

Business Operations

Belgrade Stock Exchange

Skopje, May 19, 2009

content
Content:
  • Facts
  • Market structure
  • Trading statistics
  • BELEX vs. SEE
  • Survey - Corporate responsibility
  • Conclusion
facts
Facts:
  • Serbia was the last in the SEE to enter market reforms,
  • The Belgrade SEregistered7 transactions in equities in the whole 2001,
  • Serbias’ population 7.4 mln, but only aproximately 0.3% trade,
  • No IPOs,
  • Privatization of state-owned copmanies ongoing – but no companies listed,
  • Underdeveloped debt market – state, municipal, corporate bonds...
belex15 belexline msci
BELEX15 & BELEXline & MSCI

BELEX15

  • 15 most liquid shares
  • Free-float Mcap weighted
  • 26% of free-float Mcap of BELEX
  • Real-time calculated
  • Max weight 20%
  • Indexcertificates traded in Frankfurt, Stutgart, Vienna and Warsaw
  • BELEXline
  • 80 components
  • Free-float Mcap weighted
  • 51% of free-float Mcap of BELEX
conclusion
Conclusion
  • Online disclosure improved (english and local language web site, list of management/board members, governance structure, annual and financial report, shareholding structure...), but additional information are still not complete
  • CG Information on the web sites are available in general, but oftenly not easily accesible (web sites are still not investor oriented)
  • Belgrade SE issued CG Code in cooperation with IFC (International Finance Corporation )
  • CG code adopted by larger number of companies
  • Belgrade SE persistant educational efforts on bringing CG to companies

Making a progress, but still long way to go...

thank you belgrade stock exchange www belex rs www belex info
Thank you!

Belgrade Stock Exchange

www.belex.rswww.belex.info

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