Banja Luka Stock Exchange
 | | Established: | 9th May 2001 | | Employees: | 6 | | CEO: | Milan Božić | | Address: | Petra Kočića bb, 78000 Banja Luka | | Telephone: | +387 51 326 040 | | Fax: | +387 51 326 056 | | Email: | blberza@blic.net | | Website: | http://www.blberza.com/ | The Banja Luka Stock Exchange or BLSE (Serbian Cyrillic: Бањалучка берза, Serbian Latin: Banjalučka berza) is a stock exchange which operates in Banja Luka in the Republic of Srpska, Bosnia and Herzegovina. Image File history File links Blse. ...
Serbian Cyrillic is the Serbian variant of the Cyrillic alphabet. ...
Banja Luka (Serbian Cyrillic: Бања Лука) is the second largest city in Bosnia and Herzegovina, the capital and the largest city of the Republika Srpska entity as well as a major center of the region known as Bosanska Krajina. ...
Republika Srpska shaded red Official languages Serbian, Croatian, Bosniak Capital de jure Sarajevo, de facto Banja Luka Area – Total – % water 24,811 km² n/a Population – Total (2001) – Density 1,490,993 60/km² Ethnic groups (1996) Serbs: 90% Bosniaks: 7% Others: 3% President Dragan Čavić Prime minister Pero Bukejlović...
History
15 July 1998 - The adoption of The Law on Securities provided the necessary legal framework to establish the capital market of the Republic of Srpska. July 15 is the 196th day (197th in leap years) of the year in the Gregorian Calendar, with 169 days remaining. ...
1998 (MCMXCVIII) was a common year starting on Thursday of the Gregorian calendar, and was designated the International Year of the Ocean. ...
4 May 2000 - The National Assembly of the Republic of Srpska appointed the first members of Republic of Srpska Securities Commission. May 4 is the 124th day of the year in the Gregorian calendar (125th in leap years). ...
This article is about the year 2000. ...
26 February 2001 - Established Central Registry of Securities. February 26 is the 57th day of the year in the Gregorian Calendar. ...
2001: A Space Odyssey. ...
9 May 2001 - Eight banks and one company trading in securities signed the Contract that established the Banja Luka Stock Exchange (BLSE). May 9 is the 129th day of the year in the Gregorian Calendar (130th in leap years). ...
2001: A Space Odyssey. ...
9 August 2001 - Republic of Srpska Securities Commission issued working permit to Banja Luka Stock Exchange. August 9 is the 221st day of the year in the Gregorian Calendar (222nd in leap years), with 144 days remaining. ...
2001: A Space Odyssey. ...
29 November 2001 - The first equity from the privatisation programme was registered in the Central Registry of Securities (CRHoV). November 29 is the 333rd (in leap years the 334th) day of the year in the Gregorian Calendar. ...
2001: A Space Odyssey. ...
5 March 2002 - Signed contract on transfer of license between the Directorate for Privatisation and the BLSE that provided BLSE with electronic trading system (BTS) developed by the Ljubljana Stock Exchange (LJSE). March 5 is the 64th day of the year in the Gregorian Calendar (65th in leap years). ...
For album titles with the same name, see 2002 (album). ...
14 March 2002 - The first BLSE trading session took place, involving six Members that traded 20 listed securities. March 14 is the 73rd day of the year in the Gregorian Calendar (74th in leap years) with 292 days remaining in the year. ...
For album titles with the same name, see 2002 (album). ...
12 November 2002 - The BLSE purchased 7% of stocks of the Central Registry of Securities. November 12 is the 316th day of the year (317th in leap years) in the Gregorian Calendar, with 49 days remaining. ...
For album titles with the same name, see 2002 (album). ...
12 September 2002 - The Law on Takeover came into force. September 12 is the 255th day of the year (256th in leap years). ...
For album titles with the same name, see 2002 (album). ...
30 September 2002 - The BLSE and the LJSE signed Memorandum on cooperation and exchange of information. September 30 is the 273rd day of the year (274th in leap years) in the Gregorian calendar, with 92 days remaining. ...
For album titles with the same name, see 2002 (album). ...
10 December 2002 - A contract on regional co-operation in field of education and financial markets was signed with the Belgrade Stock Exchange. December 10 is the 344th day (345th in leap years) of the year in the Gregorian calendar. ...
For album titles with the same name, see 2002 (album). ...
Belgrade Stock Exchange (BELEX) (Beogradska Berza, a. ...
24 January 2003 - The first session of The Listing Commission took place and stocks of 13 Privatisation Investment Funds admitted to the official market of the BLSE. January 24 is the 24th day of the year in the Gregorian calendar. ...
2003 (MMIII) was a common year starting on Wednesday of the Gregorian calendar. ...
11 February 2003 - The first transactions concluded with shares of PIFs. February 11 is the 42nd day of the year in the Gregorian Calendar. ...
2003 (MMIII) was a common year starting on Wednesday of the Gregorian calendar. ...
20 August 2003 - The first auction for state owned capital took a place on the BLSE August 20 is the 232nd day of the year (233rd in leap years) in the Gregorian Calendar. ...
2003 (MMIII) was a common year starting on Wednesday of the Gregorian calendar. ...
23 September 2003 - Shares of Rafinerija ulja a.d. Modriča were listed on the official market of the BLSE as the first company listed on official market in Bosnia. September 23 is the 266th day of the year (267th in leap years). ...
2003 (MMIII) was a common year starting on Wednesday of the Gregorian calendar. ...
ModriÄa (Serbian: Модрича) is a town in Bosnia and Herzegovina. ...
27 April 2004 - The Stock Exchange Index of Republic of Srpska (BIRS) established. April 27 is the 117th day of the year (118th in leap years) in the Gregorian Calendar, with 248 days remaining. ...
2004 (MMIV) was a leap year starting on Thursday of the Gregorian calendar. ...
The BIRS Index is a share index of the 12 largest companies listed on the Banja Luka Stock Exchange (BLSE), established on 1 May 2004. ...
The BIRS Index is a share index of the 12 largest companies listed on the Banja Luka Stock Exchange (BLSE), established on 1 May 2004. ...
29 July 2004 - Investment Funds Index of Republic of Srpska (FIRS) established. July 29 is the 210th day (211th in leap years) of the year in the Gregorian Calendar, with 155 days remaining. ...
2004 (MMIV) was a leap year starting on Thursday of the Gregorian calendar. ...
The FIRS Index is a share index of the 13 privatisation-investment funds (PIFs) listed on the Banja Luka Stock Exchange (BLSE), established on 29 July 2004. ...
The FIRS Index is a share index of the 13 privatisation-investment funds (PIFs) listed on the Banja Luka Stock Exchange (BLSE), established on 29 July 2004. ...
29 December 2005 - The Index of the Power Utility Companies of Republic of Srpska (ERS10) established. December 29 is the 363rd day of the year (364th in leap years) in the Gregorian Calendar, with 2 days remaining. ...
2005 (MMV) was a common year starting on Saturday of the Gregorian calendar. ...
The ERS10 Index is a share index of the 10 companies from the power utility sector which are listed on the Banja Luka Stock Exchange (BLSE), established on 29 December 2005. ...
Strategy The strategy of the Banja Luka Stock Exchange is to further improve quality and create cheaper services for its Members and to provide a transparent and fair trading environment for domestic and foreign issuers and investors. The BLSE will continue working at achieving the standard of services comparable with those prevailing on developed capital markets.
Objectives:
- to protect the interest of investors;
- to promote investment in securities;
- to provide liquidity and "depth" in the capital market of the Republic of Srpska;
- to introduce new financial instruments in the capital market of the Republic of Srpska;
- to provide conditions for public companies to raise the capital required to finance their development plans;
- to promote the listing of securities issued by local companies;
- to attract foreign investors through use of promotional campaign to connect with regional capital market;
- to connect with regional capital market.
Official market The official market is a prestigious part of the stock exchange market, where, apart from the general conditions, there are also requirements of specific conditions regarding the amount of equity, class diversification in public, business performance and objectivity of financial statements. With consideration of the level of development of the capital market of the Republic of Srpska, the biggest number of securities from privatization process is listed on the free market of the BLSE.
General conditions for listing securities on organized market are:
- possibility to trade in an organized way with those securities;
- securities have been paid in full;
- freely transferable;
- issued in non material form.
On the official market those securities may be listed which apart from the general conditions meet the following criteria: - Years of existence: 3
- Reality and objectivity of financial statements: Audited financial statements
- Equity size: BAM 5,000,000 (BAM 1 = EUR 0.5113)
- Min. size of class of shares: BAM 1,000,000
- Class diversification in public: at least 15%
- Number of shareholders: at least 50
Listing criteria for 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 Republic of 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.
Indices BIRS, an index of 12 leading shares on the stock exchange, including Telekom Srpske and Rafinerija ulja Modriča. The BIRS Index is a share index of the 12 largest companies listed on the Banja Luka Stock Exchange (BLSE), established on 1 May 2004. ...
 Image File history File links Download high resolution version (1259x604, 80 KB)Image created and copyright held by Vladimir Ivanić. File history Legend: (cur) = this is the current file, (del) = delete this old version, (rev) = revert to this old version. ...
FIRS, an index of 13 privatisation-investment funds in Republika Srpska. The FIRS Index is a share index of the 13 privatisation-investment funds (PIFs) listed on the Banja Luka Stock Exchange (BLSE), established on 29 July 2004. ...
 Image File history File links Download high resolution version (1260x605, 67 KB) Licensing File history Legend: (cur) = this is the current file, (del) = delete this old version, (rev) = revert to this old version. ...
ERS10, an index of 10 companies from the power utility sector.
 Image File history File links Download high resolution version (1261x606, 56 KB) Licensing File history Legend: (cur) = this is the current file, (del) = delete this old version, (rev) = revert to this old version. ...
Clearing and settlement The Central Registry of Securities for all members of the Central Registry (CR) takes on fulfilment of monetary liabilities and fulfilment 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 Republic of 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. In the common law, a partnership is a type of business entity in which partners share with each other the profits or losses of the business undertaking in which they have all invested. ...
A limited partnership is a form of partnership similar to a general partnership, except that in addition to one or more general partners (GPs), there are one or more limited partners (LPs). ...
A limited liability company (denoted by L.L.C. or LLC in the US) is a legal form of business company offering limited liability to its owners. ...
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. Bijeljina
- NLB Razvojna banka a.d. Banja Luka
- Zepter komerc banka a.d. Banja Luka
Bijeljina (Serbian Cyrillic: Бијељина) is a town in northeastern Bosnia-Herzegovina in the Republika Srpska entity. ...
Zvornik (Зворник) is a city on the Drina river in northeastern Bosnia and Herzegovina, located southeast of Tuzla and north of Srebrenica. ...
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