Analysis of trading on Belgrade Stock Exchange - November 26-30, 2007

Another week on Belgrade Stock Exchangewith exceptionally small turnovers is behind us. Average daily turnover barely exceeded 4m RSD, with mild reduction of participation of foreign investors. Stock exchange index Belex 15 registered weekly growth of 0.77%, while Belex line fell by 0.05%.

Stocks of AIK banka were, once again, the most traded stocks with maximal daily turnover of about 6,600 stocks. Weekly growth of price of stock of AIK banka amounted to 1.95%.

Another bank was interesting to investors this week. During the entire period, Agrobanka was in the group of the most traded securities on the stock exchange with small weekly fall in price in amount of 0.13%.

The latest information from Sojaprotein led to final increase in price of this stock, at least for a short time.

Namely, Sojaprotein announced special meeting of the stockholders on December 20, which will be the opportunity for them to decide about the suggestion for issuing common stocks of the seventh issue without public offer in order to exchange existing stocks. Total volume of the issue is 5,390,000 stocks that would replace existing 1,078,000 stocks,that is, the coefficient of exchange amounts to 1:5. At one moment, the stocks of Sojaprotein reached maximal daily price of 17,000 RSD, and weekly increase in price amounted to 3.71%

Public invitation for registration and payment of new issue of 200,000stocks was announced by Fidelinka last week. Stockholders with the priority in purchase can take stocks between November 27 and DEcember 17 at the price of 3,800 RSD per stock. All the others interested will be able to buy stocks between December 18 and 26 at price of 4,200 RSD per stock. Increase in price of stocks of Fidelinka amounted to 4.07% last week.

Author : Tijana Cvetković, financial analyst

Ilirika Investments, a.d., Beograd

tijana.cvetkovic@ilirika.co.yu

Supervisory Organ: Securities Commission, Belgrade