On the Montenegro Stock Exchange, 34,000 shares of Luka Bar were sold yesterday

Published on 27. October 2022., News

On the Montenegro Stock Exchange, 34,000 shares of Luka Bar were sold yesterday at an average price of 82.4 cents.

The shares of this company have been growing significantly since the beginning of October, when a group of small shareholders gave an order for the sale of about eight million shares, which is about 15% of the share capital of Luka Bar, at a price of one euro each.

In that period, the share of Luka Bar was worth about 45 cents on the stock exchange. The shares of this company have a price limit of a maximum daily growth of 10%, but with several daily jumps from five to 9.7%, its value has almost doubled compared to the beginning of the month.

Theoretically, it is necessary for the shares of this company to rise once again by an amount of up to 10%, so that the next day this large package of shares offered for one euro would enter the legally permitted price range. That is, then an interested buyer could buy this package of shares for around EUR 8 million.

If the Government were to buy those shares, with the existing package, it would have two-thirds ownership and the legal ability to make decisions such as merging companies. The Government previously announced that they are considering the purchase of the Port of Adria, the former container terminals, from the Turkish owner and re-joining the Port of Bar.

Shares can be bought by any buyer from the country and abroad who has that amount of money and places an order on the stock exchange. The nominal value of these shares is 1.21 euros. The Government of Serbia has previously expressed interest in buying part of the Port of Bar, local media reports.