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Market Performance Highlights June 17 th , 2011.
Index 1d% Ytd% pts Macroeconomic Environment:
ATX(AT) -1.18 -7.1 2,698 The construction of mHPP “Dub” ATX(AT) and mHPP 0.62 “Ustiprača” -6.4 will 2,719 start in second
half of 2012 (positive)
SBITOP(SI)
BELEX15(RS)
BETI(RO)
CROBEX(HR)
SOFIX(BG)
SASX10(BiH)
BIRS(BiH)
0.14 -10.3 763
Capital Market:
SBITOP(SI) 1.44 -9.6 769
-1.06 18.4 772
First bonds issue of municipality Kostajnica (positive)
BELEX15(RS) -0.39 19.0 776
Published a public offer for the registration and payment of shares (positive)
-1.06 5.0 5,535
Banking Sector:
BETI(RO) -0.27 5.5 5.557
IDB RS: The Republic of Srpska became co-owner o the 2 banks and 1
-0.35 6.3 2,245 insurance company (neutral) CROBEX(HR) 0.37 7.5 2,269
-0.04 13.9 413 Company News:
SOFIX(BG) -0.54 13.9 413
0.76 6.7 1,007
Vispak dd Visoko: Record results of production and sales (positive)
Željeznice RS ad Doboj: The SASX10(BiH) strike is stooped 0.13 (positive) 5.4 994
Pivara Tuzla dd: Decisions of Shareholders Assembly (neutral)
-0.15 14.2 1,092 BIRS(BiH)
B&H
The construction of mHPP “Dub” and
mHPP “Ustiprača” will start in second half
of 2012 (positive)
RS
First bonds issue of municipality
Kostajnica (positive)
Market
News Flash
0.06 15.9 1,108
The construction of mini hydroelectric power plant „Ustiprača“ in municipality
Novo Goražde and MHP „Dub“ in municipality Rogatica will start in the
second semester of 2012. The RS Government adopted the decision by
which construction of this 2 MPP declared as public interest while
construction should be base on the concession agreement. The company
„Hidroinžinjerinf“ provided all necessary documentations for construction
while according to the plan, first will start construction of mHPP „Dub
“followed by the reconstruction of mHPP „Ustiprača“. HPP „Dub“ will have
installed capacity of 8.8 MW with average annual production of 50 million
KWh while mHPP „Usiprača“ will have installed capacity of 6.8 MW and
average annual production of 35 million KWh. Total value of investment is
estimated on BAM 55 million while construction deadline is beginning of
2014.
Source: www.ekapija.ba
The delegates in Municipality Council Kostajnica adopted the decision of the
first bonds issue by public offering in total amount of Bam 1.8 million and
with maturity of 15 years. As delegates stated the main aim of the issuance is
to buyout credit loans from earlier periods in the amount of BAM 970,000
and for capital investments in amount of BAM 830,000. The Major of
Kostajnica sad that bond issue will be considered successful if in the 60% of
the total bond issue will be paid in regular time.
Source: Fokus

Market News Flash
Jahorina osiguranje a.d. Pale (SODJ-
R-A)
Published a public offer for the
registration and payment of shares
(positive)
IDB RS
The Republic of Srpska became co-owner
o the 2 banks and 1 insurance company
(neutral)
Vispak dd Visoko (VSPKR)
Record results of production and sales
(positive)
Željeznice ad Doboj (ZERS-R-A)
The strike is stoped (positive)
Pivara Tuzla dd Tuzla (PITZR)
Decisions of Shareholders Assembly
(neutral)
The Shareholders Assembly of the company „Jahorina osiguranja“ a.d. Pale
held on 21.04.2011 have adopted a decision on the 8th issue of ordinary
shares by public offering at the Stock Exchange. The total number of the
issued shares is 20,000, with a nominal value of the share of BAM 100.00,
while total amount of the emissions is BAM 2,000,000. The price share for
Shareholders who have a preferential right is BAM 100 per share. The price
for the remaining shares will be formed on the Stock Exchange. Registration
and payment of these shares is Monday (04.07.2011) and will last until
Thursday (28.07.2011).
Source: Glas Srpske
The Republic of Srpska became co-owner o the 2 banks and 1 insurance
company. The investment- development bank of RS, for Bam 13 million
purchase share in several financial institutions in particular Balkan Investment
bank ad Banja Luka (BAM 5 million), Bobar Banka (BAM 6 million) and
insurance company Aura (BAM 2 million). The Prime Minister of the RS as
chairmen of the IDB RS announced that negotiations with Nova Banka are
also ongoing and that Nova Banka expressed interest in support from IDB
RS. The recapitalization of the financial institutions by state owned institutions
is provided by amendments on orders according to which IDB RS perform.
Source: Poslovne novosti
A half year after the company “AS” d.o.o. Tešanj acquired a majority stake
of 83.93%, the food industry “Vispak” from Visoko recorded a record
monthly production and sales in its postwar history. In May of this year the
company “Vispak” placed on Market products in the amount of BAM
2,411,483.90, which represents an increase by 76 % compared to the same
period of last year. The total value of production amounted to BAM
2.464.376 KM. From the moment when the company was taken, the volume
of production increased by about 30%.
Source: www.sarajevo-x.com
As of this morning on all the lines in RS has been provided a complete
process of rail traffic. The agreement on this have reached Dragan Savanović,
the general director of “Railways RS” and Simo Cvjetković, president of the
Independent Trade engineer. "The mostly part of our demands is completed,
which is why the reasons for the strike have stopped" was stated in statement
of syndicate. The Government of RS yesterday have paid BAM 5 mn to
Railways of RS for payments and hot meals to workers. All six unions of
"Railways of RS" came on June 3 in strike.
Source: www.sarajevo-x.com
On the 12th Shareholders Assembly of the company “Pivara Tuzla” d.d.
Tuzla held on 15.06.2011, the decision on an Annual Report for 2010,
decision of a Business Plan for 2011, decision on decreasing capital and
covering loss has been adopted. The decisions on amendments to the Statute
and on appointment of a new member of the audit and Supervisory Board
were also adopted.
Source: San

Impressum
Raiffeisen Research
Raiffeisen BANK d.d. Bosna i Hercegovina
Investment Banking Division
Sanja Korene, Director; Phone: + 387 33 28 71 22, e-mail: sanja.korene@rbb-sarajevo.raiffeisen.at
Ivona Kristić, Head of Research; Phone: + 387 33 28 77 84, e-mail: ivona.kristic@rbb-sarajevo.raiffeisen.at
Dragomir Grgić, Head of Custody and Fund Administration; Phone: + 387 33 28 71 26, e-mail: dragomir.grgic@rbb-sarajevo.raiffeisen.at
Lejla Baljević, Head of Capital Markets; Phone: + 387 33 28 76 48, e-mail: lejla.baljevic@rbb-sarajevo.raiffeisen.at
Nadira Cenanović, Head of Brokerage Business; Phone: +387 33 28 76 47, e-mail: nadira.cenanovic@rbb-sarajevo.raiffeisen.at
Maida Gopo, Head of Portfolio Management and Investment Advisory; Phone: + 387 33 28 76 45, e-mail: maida.gopo@rbb-sarajevo.raiffeisen.at
Raiffeisen CAPITAL a.d. Banja Luka
Nataša Majstorović, Director; Phone: + 387 51 23 14 90, e-mail: natasa.majstorovic@rbb-sarajevo.raiffeisen.at
Publisher
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Zmaja od Bosne bb, 71000 Sarajevo
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Raiffeisen direct info: +387 33 75 50 10 • Fax: +387 33 21 38 51
This publication was completed on June 17 th , 2011
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