Belgrade-based Telefonija goes bankrupt

Yesterday, the Belgrade Stock Market fully halted trading in shares of Belgrade-based Telefonija and at the same time annulled all orders for trading in shares of this entity which have previously been brought into the market.

Namely, the Belgrade Stock Market received Telefonija’s letter where it informed the Stock Market that with the decision of the Trade Court in Belgrade, the company has stepped into bankruptcy procedure and that a trustee in bankruptcy was appointed which was also proved through the insight into advertisement on opening of the bankruptcy procedure published at the Official Gazette of the Republic of Serbia, No. 104/2014. Two weeks before, i.e. October 2, the Stock Market previously halted trading in shares of Telefonija, until announcement and documentation relevant for overview of the issuer’s status were sent to the Stock Market.

At the latest trading in shares of the company securities totaled only RSD 27, although it decreased to minimal RSD 8, so the market company capitalization on October 2 totaled EUR 15,6 m, i.e. EUR 131,5 000. These days, the highest share price has reached RSD 144 in early January this year while historically highest price of incredible RSD 24.899 was March 22, 2007.