KBC Securities Serbia: Investment case Brussels · Belgrade · Bucharest · Budapest · Kiev · London · Munich · Moscow · New York · Paris · Prague · Riga · Sofia · Warsaw BDD KBC Securities a. d. Beograd | Cincar Jankova 3 | Beograd | office@kbcsecurities. co. yu | Tel/Fax: +381 11 2910 696
Market statistics Market Capitalization (EUR m) Number of listed stocks Average daily turnover (EURm) Foreign investor participation INDICES 15. 1 1, 808 4. 8 36. 0% YTD BELEXline -19. 3% BELEX 15 -23. 0% SRX EUR -26. 2% Brussels · Belgrade · Bucharest · Budapest · Kiev · London · Munich · Moscow · New York · Paris · Prague · Riga · Sofia · Warsaw BDD KBC Securities a. d. Beograd | Cincar Jankova 3 | Beograd | office@kbcsecurities. co. yu | Tel/Fax: +381 11 2910 696
Index Performance: BELEX 15 INDEX BELEX 15 YTD 1 M 3 M -23. 0% -11. 2% -14. 6% Brussels · Belgrade · Bucharest · Budapest · Kiev · London · Munich · Moscow · New York · Paris · Prague · Riga · Sofia · Warsaw BDD KBC Securities a. d. Beograd | Cincar Jankova 3 | Beograd | office@kbcsecurities. co. yu | Tel/Fax: +381 11 2910 696
Most active Company Industry Symbol (Bloomberg) Av daily Turnover AIK Banka Banking AIKB SG EUR 683. 8 k Agrobanka Banking AGBN SG EUR 157. 6 k Energoprojekt Construction ENHL SG EUR 101. 7 k Symbol (Bloomberg) Mkt Cap Highest mkt cap Company Industry AIK Banka Banking AIKB SG EUR 686. 8 m Agrobanka Banking AGBN SG EUR 161. 7 m Energoprojekt Construction ENHL SG EUR 233. 5 m Brussels · Belgrade · Bucharest · Budapest · Kiev · London · Munich · Moscow · New York · Paris · Prague · Riga · Sofia · Warsaw BDD KBC Securities a. d. Beograd | Cincar Jankova 3 | Beograd | office@kbcsecurities. co. yu | Tel/Fax: +381 11 2910 696
Trading methods Continuous Prevailing price Trading platform Electronic trading system Belex trading platform Trading hours Continuous Prevailing price 9: 00 am – 1: 00 pm 10: 00 am – 12: 00 pm Clearing and settlement Central depositary and clearing house (www. crhov. co. yu) Settlement of transactions: T+3 Delivery versus paymnet system - DVP Brussels · Belgrade · Bucharest · Budapest · Kiev · London · Munich · Moscow · New York · Paris · Prague · Riga · Sofia · Warsaw BDD KBC Securities a. d. Beograd | Cincar Jankova 3 | Beograd | office@kbcsecurities. co. yu | Tel/Fax: +381 11 2910 696
Fees & Commissions Brokerage fee Negotiable CR fee 0. 10% BSE fee 0. 15% Bank n/a Taxes Capital gain* 20% Dividend 10% Transfer of ownership rights 0. 35% *Unless there is a double taxation treaty Brussels · Belgrade · Bucharest · Budapest · Kiev · London · Munich · Moscow · New York · Paris · Prague · Riga · Sofia · Warsaw BDD KBC Securities a. d. Beograd | Cincar Jankova 3 | Beograd | office@kbcsecurities. co. yu | Tel/Fax: +381 11 2910 696
Country data Population 7. 4 m Area 88, 361 km 2 Capital city Currency Belgrade RSD (Serbian dinar) Macroeconomics 2005 2006 2007 21. 1 24. 3 29. 9 2, 833 3, 273 3, 971 RPI (%) 17. 7 6. 6 10. 1 Unemployment (%) 21. 8 21. 6 18. 8 Average net salary (€) 204. 0 274. 8 350. 3 Trade balance (% of GDP) -22. 9 -22. 1 -23. 1 -9. 7 -13. 8 -17. 5 1, 244. 6 3, 398. 7 1, 601. 6 GDP (€ bn) GDP per capita (€) Current acc balance (% of GDP) Net FDI (€ m) Source: Minstry of Finance Brussels · Belgrade · Bucharest · Budapest · Kiev · London · Munich · Moscow · New York · Paris · Prague · Riga · Sofia · Warsaw BDD KBC Securities a. d. Beograd | Cincar Jankova 3 | Beograd | office@kbcsecurities. co. yu | Tel/Fax: +381 11 2910 696
Contact us Trading Tanja Loncar tatjana. loncar@kbcsecurities. co. yu Ana Jovanovic ana. jovanovic@kbcsecurities. co. yu Dusan Markovic dusan. markovic@kbcsecurities. co. yu Dusan Sotirovic dusan. sotirovic@kbcsecurities. co. yu Research Sandra Jankovic sandra. jankovic@kbcsecurities. co. yu Vladan Rankov vladan. rankov@kbcsecurities. co. yu Vladan Pavlovic vladan. pavlovic@kbcsecurities. co. yu Back Office Petar Licina Stanislava Petkovic Ljubisa Zlatkovic Emilija Dimitrov Milutinovic petar. licina@kbcsecurities. co. yu stanislava. petkovic@kbcsecurities. co. yu ljubisa. zlatkovic@kbcsecurities. co. yu emilija. milutinovic@kbcsecurities. co. yu Brussels · Belgrade · Bucharest · Budapest · Kiev · London · Munich · Moscow · New York · Paris · Prague · Riga · Sofia · Warsaw BDD KBC Securities a. d. Beograd | Cincar Jankova 3 | Beograd | office@kbcsecurities. co. yu | Tel/Fax: +381 11 2910 696
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