Metals bank excluded from A listing on Belgrade Stock Exchange

The Belgrade Stock Exchange’s Listing Commission has decided to exclude stocks of Novi Sad-based Metals Bank from A listing.

Total of 339,749 common stocks whose nominal value is 12,850 RSD per security are excluded from A listing. Metals bank entered A Listing, the most quality stocks on the Stock Exchange, on August 22nd, and it reported about preventive and corrective measures against it, introduced by the National Bank, only two months later.

The Stock Exchange asked Metals bank to provide detailed information since those were the circumstances that could have influenced its operations, so that the publishing for such information was in the interest of the investment public.

The Bank responded by announcing new statement, while the Stock Exchange asked for additional, more comprehensive information, including the reasons that led to disturbance in liquidity of Metals bank.

Since Matals bank refused to act as the Stock Exchange proposed, the authorized commission stated that the bank disobeyed the regulations from the Law on securities market and made decision to exclude its stocks from A listing.