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Corporate Responsibility Survey - Serbian C ase -

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 -

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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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