FEDERATION OF EURO-ASIAN STOCK EXCHANGES
SEMI ANNUAL REPORT OCTOBER 2008
SARAJEVO STOCK EXCHANGE
Zlatan Dedic
General Manager
In its sixth year of operation the Sarajevo Stock
Exchange (SASE) has accomplished excellent
results in trading of shares. There are several
examples that confirm this, but the most
illustrative one is the total turnover in 2007
EUR 651 million which is more than the
turnover in 2006 and 2005 combined.
In 2007, we have analyzed all investor’s
obstacles and started removing them. Above
all we wanted to adequately show investors
that our capital market is worthy for them and
offers substantial returns on their investments.
The access to more information was enabled
with new data available on the new Capital
Market of the Federation of Bosnia and
FUTURE OUTLOOK
The SASE expects the excellent results from
2007 to continue into the next year together
with the accomplishment of greater efficiency
and transparency of the Capital Market in the
Federation of Bosnia and Herzegovina. The
SASE future outlook for 2008 includes following
activities:
• Continuation of privatization of the State
owned capital through the SASE.
• Creation of the joint index of the SASE and
Banja Luka Stock Exchange.
• Issuance of the government bonds which
would activate SASE trading platform for bonds.
In 2007, we have analyzed all investor’s
obstacles and started removing them.
Above all we wanted to adequately show
investors that our capital market is worthy
for them and offers substation returns on
their investments.
Herzegovina web portal, a joint project of the
SASE, Securities Commission and Central
Registry. Our openness to investors drew their
attention and gave incentive and confidence to
the capital market in the Federation of Bosnia
and Herzegovina.
There were 4 mutual funds founded in 2007,
with several others currently in preparation.
Also we expect the pension reform to bring
additional demand to the market. We hope
that the adoption of the new Security Market
Law expected for 2008 will give the market
more options for further expansion. One more
reason for greater investor’s interest in capital
market in the Federation of Bosnia and
Herzegovina is the announcement of
infrastructure projects especially in energy,
telecommunication and road construction
sectors, and announcement for privatization of
companies who are the pillars of the Bosnian
economy. All these factors will ensure success
from 2007 will continue into 2008 where the
SASE will again exceed all expectations.
• Continuing to list strategic companies
currently on the SASE Free Market to the SASE
Official Market.
• Creation of the SASE Official Market index.
• Introduction of free-float methodology for all
stock exchange indicators and statistics.
• Development of a corporate governance
code with assistance from International Finance
Corporation (IFC) with the intent to increase
corporate culture of local issuers.
• Attract new issuers through Initial Public
Offers.
• Issuance of new publication titled Investors
Guide
CONTACT INFORMATION
Contact Name Mr. Goran Kahvedzic
E-mail [email protected]
Website www.sase.ba
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