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Corporate Responsibility Survey - Serbian C ase -

Explore the corporate responsibility landscape in Serbia with a focus on market reforms, equity transactions, and governance practices. Discover key statistics and insights from the Belgrade Stock Exchange merged with SEE region data. Dive into the challenges and advancements in corporate governance for sustainable growth.

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Corporate Responsibility Survey - Serbian C ase -

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  1. Corporate Responsibility Survey -Serbian Case- Vesna Ilić Ljušić Business Operations Belgrade Stock Exchange Skopje, May 19, 2009

  2. Content: • Facts • Market structure • Trading statistics • BELEX vs. SEE • Survey - Corporate responsibility • Conclusion

  3. 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...

  4. Equity Market Capitalization

  5. Belgrade Stock Exchange Turnover

  6. Average Daily Equity Turnover

  7. 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

  8. FIS-Foreign Investors Participation in Shares-

  9. BELEX in the SEE Region

  10. ex-Yu region in numbers

  11. SEE Exchanges Equity Market Cap

  12. SEE Exchanges Equity Turnover

  13. Corporate Governance Survey

  14. Corporate Governance - March 2009BELEX15 & TOP 10 (cont.) vs. CEE/SEE

  15. Corporate Governance - March 2009BELEX15 & TOP 10 (cont.)

  16. Corporate Governance - March 2009BELEX15 vs. CEE/SEE

  17. Corporate Governance - March 2009Top 10 (continuous) - last 3 surveys

  18. Corporate Governance - March 2009Top 10 (continuous) - last 3 surveys

  19. Corporate Governance - March 2009BELEX15- last 3 surveys

  20. Corporate Governance - March 2009BELEX15- last 3 surveys

  21. 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...

  22. Thank you! Belgrade Stock Exchange www.belex.rswww.belex.info

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