Q:
A:
Free shares, application process for citizens begins
Belgrade,
28 January 2008
Serbian Minister of Economy and Regional Development Mladjan Dinkic said today that the applications by four million citizens for free shares in six public companies will truly make these companies public because a huge number of citizens will become their small shareholders and thus apply pressure on them to perform better.
Author:
Fonet
Dinkic said that money will begin to be paid into citizens' accounts in January next year, and initial trading of these shares will be possible in the first half of 2009.
The minister voiced hope that Serbian oil industry Naftna Industrija Srbije (NIS), Jat, Telekom Srbija and Galenika will be the first ones to be privatised, almost at the same time. He added that some companies will offer their shares on the Belgrade Stock Exchange and some will remain mostly state-owned.
Dinkic said that not all public companies will be fully privatised since the majority shareholdings in Telekom, Galenika, power company Elektroprivreda Srbije (EPS) and Nikola Tesla airport will be retained by the state after 2010 as well, but citizens will hold 15% of the shares in those companies, and employees and former employees an additional 3% to 5%.
According to him, citizens will be entitled to dividends every year and they will also be able to sell shares on the stock exchange. Citizens will be the owners of 15% of NIS, independently of its buyer.
The application process for free shares started today in post offices and it will continue until July 31, 2008. It is estimated that by that time about four million people will have exercised their right to free shares in the six public companies.
The minister voiced hope that Serbian oil industry Naftna Industrija Srbije (NIS), Jat, Telekom Srbija and Galenika will be the first ones to be privatised, almost at the same time. He added that some companies will offer their shares on the Belgrade Stock Exchange and some will remain mostly state-owned.
Dinkic said that not all public companies will be fully privatised since the majority shareholdings in Telekom, Galenika, power company Elektroprivreda Srbije (EPS) and Nikola Tesla airport will be retained by the state after 2010 as well, but citizens will hold 15% of the shares in those companies, and employees and former employees an additional 3% to 5%.
According to him, citizens will be entitled to dividends every year and they will also be able to sell shares on the stock exchange. Citizens will be the owners of 15% of NIS, independently of its buyer.
The application process for free shares started today in post offices and it will continue until July 31, 2008. It is estimated that by that time about four million people will have exercised their right to free shares in the six public companies.
-
Belgrade, 21 July 2025Construction of oil pipeline with Hungary to begin early next year
-
Belgrade/Athens, 17 July 2025Serbia continues to align with EU in field of energy
-
Kostolac, 14 July 2025First solar power plant Petka in Kostolac put into trial operation
-
Belgrade, 11 July 2025Potential for improving cooperation with Belarus in many areas
-
Požega, 5 July 2025Section of Pakovraće - Požega highway officially opened
-
Belgrade, 2 July 2025Technical specifications defined for Serbia-Hungary oil pipeline
-
Belgrade, 30 June 2025IMF confirms Serbia successfully implementing all agreed reforms
-
Belgrade, 27 June 2025Double Taxation Avoidance Agreement with Germany signed
-
Kostolac, 25 June 2025Construction of Kostolac wind farm nearing completion
-
Belgrade, 24 June 2025Government supports request for new postponement of sanctions against NIS