Belgrade Stock Exchange (BELEX) has published amendments to the Rules on Listing. The changes focus on the liberalization of listing requirements for the admission to the BELEX Prime Listing.
According to the amended Article 7, item 1 of BELEX Rules on Listing, an issuer who has made a net loss in the business year preceding the submission of the listing application may request an admission of his shares to the Prime Listing on special grounds defined by the Rules on Listing. BELEX’ Board of Directors shall decide and issue a positive opinion on justification of such admission requests if the following conditions are cumulatively fulfilled:
1) in the consolidated financial statements for the business year preceding the submission of the listing application, a positive opinion of a certified auditor has been obtained and net profit has been realized;
2) it is estimated that investors have all the information necessary to evaluate the issuer and shares for which listing is requested and that listing is in the interest of the issuer or investors.
The amendments to the Belgrade Stock Exchange Rules on listing will become effective as of 4 June 2018.
Impact on Investors:
The new listing rules will provide more flexible conditions for the admission of shares for trading on the BELEX Prime Listing segment.