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Banja Luka Stock Exchange

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Title: Banja Luka Stock Exchange  
Author: World Heritage Encyclopedia
Language: English
Subject: WikiProject Bosnia and Herzegovina/Watchlist, Telekom Srpske, ERS10, FIRS, BIRS
Collection: Companies Established in 2001, Economy of Banja Luka, Economy of Bosnia and Herzegovina, Stock Exchanges in Europe
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Banja Luka Stock Exchange

le="Bond (finance)">bonds:

  • Years of existence: 3
  • Reality and objectivity of financial statements: Audited financial statements
  • Issue nominal value: BAM 1,000,000

The bonds of the Republika Srpska can be admitted to the official market of the Stock Exchange with no specific conditions or restrictions.

Currently on the official market, PIFs segment, shares of 13 Privatisation Investment Funds are listed. In the next period it is expected that the best companies apply for admission to the official market of the BLSE.

Free market

The free market lists securities that meet all general conditions for listing. Securities are listed on the free market segment if required by the issuer or by the law. Shares from privatization process and publicly offered shares are listed on the free market after registration with the Central Registry of Securities. The number of shares listed on this market segment was 630 on June 31, 2003 according to the Stock Exchange Monitor (see links below), and it is expected to reach 830 after the registration of shares from privatization in the Central Registry of Securities has been completed.

Market capitalisation

BLSE market capitlaisation

Indexes

BIRS, an index of 12 leading shares on the stock exchange, including Telekom Srpske and Rafinerija ulja Modriča.

FIRS, an index of 13 privatisation-investment funds in Republika Srpska.

Clearing and settlement

The Central Registry of Securities for all members of the Central Registry takes on fulfillment of monetary liabilities and fulfillment of obligation to transfer securities arising from transactions concluded on the Stock Exchange or other regulated public market.

The Registry performs the following activities:

  • registration and maintenance of securities, i.e. information on securities, security ownership and all transactions transferring the ownership or other changes in the status of securities, both material and non material form
  • registration and maintenance of information defining the ownership or other rights incorporated, both in material and non material securities
  • record-keeping of the issuer accounts, i.e. accounts of security owners, and issuing of certificates on status and changes in those accounts
  • transfers, depositing, settlement and clearing activities arising from transactions with securities!

The Central Registry is a unique database on all securities that are traded on the securities market, and especially the database of those data pertaining to the registration of ownership and changes of ownership of the securities. This database has to include all securities. Transactions concluded on the BLSE are settled on T+3.

Foreign Investment Regulation and Taxation

A foreign investor has equal rights as a native investor concerning rights and liabilities and legal status in an enterprise. A foreign investor acquires the right on additional guaranties that are not granted to local persons since the Constitutions of the Republika Srpska prescribes that the right acquired by investment of capital shall not be reduced by the law or any other regulation and guarantees free expatriation of profit and of capital after the end of investment.

Forms of foreign investments in accordance with the Law as follows:

  • establishment of legal body fully owned by the foreign investor
  • establishment of legal body jointly owned by national and foreign investors
  • investments in existing legal bodies
  • special forms of investments.

According to the Law on Enterprises in the Republic of Srpska it is possible to establish:

Foreign persons may acquire shares and stocks. Stock company and limited liability company may be established with equity in form of money, goods or rights.

Members of the BLSE

  • Akcija broker a.d. Banja Luka
  • Balkan Investment Bank a.d. Banja Luka
  • Bobar banka a.d. Bijeljina
  • Eurobroker a.d. Banja Luka
  • Grand Broker a.d. Zvornik
  • Hypo-Alpe-Adria Bank a.d. Banja Luka
  • Nova Banjalučka banka a.d. Banja Luka
  • Nova banka a.d. Banja Luka
  • NLB Razvojna banka a.d. Banja Luka
  • Zepter komerc banka a.d. Banja Luka
  • Raiffeisen capital a.d. Banja Luka
  • Monet broker a.d. Banja Luka
  • InterFinance a.d. Banja Luka
  • Senzal a.d. Banja Luka
  • Jahorina osiguranje a.d. Pale

See also

External links

  • Banja Luka Stock Exchange, official website
  • Republika Srpska Securities Commission
  • The Central Registry of Securities
  • The Government of the Republika Srpska
  • Directorate for Privatisation
  • The Central Bank of Bosnia and Herzegovina
  • Stock Exchange Monitor, information on the South-East European stock markets
  • Banja Luka Stock Exchange, unofficial WAP site
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