Slovenian Weekly Report 13.11.2017-17.11.2017
Luka Koper situation is heating up again as a special shareholder meeting was called for 14th December 2017 to discuss situation in Luka Koper. Agenda includes:
- appointment of an Auditor for 2017, 2018 and 2019 – effectively proposing to replace KPMG with BDO Revizija;
- Determination of the remuneration amounts for supervisory board;
- Acquaintance with the findings by PWC special audit report concerning the management of individual operations executed with the providers of port services.
The later point is likely crucial as negative report could lead to top management change. The later has been speculated to be replaced for some time now (exactly from 2Q16 onwards; during 2017 supervisory board changes materialized). This could weigh in on sentiment during December.
Sava Re published its 3Q17 results in the past week, however an important announcement is also coming this week, as on Thursday 23rd November Sava Re Group will disclose its renewed strategy. More to come in the next Weekly.
In addition, Ljubljana Stock Exchange Investor Day is organized on 23rd November with 1:1 investor (analyst) meetings. We will visit all covered companies scheduled for the event and prepare meeting notes for the next Weekly. We hope to get more color on results and 2018 perspective.
ALTA Invest, investicijske storitve, d.d., (ALTA Invest, investment services, Inc.) is a part of ALTA Group, the biggest financial non-banking group in Slovenia. ALTA Invest has around 28% market share on the domestic Ljubljana Stock Exchange and has more than EUR 95m of assets under management.
Our trading advantage is our execution of large trading blocks with low impact on the market. We offer trading on several platforms on numerous markets, with a wide variety of financial instruments. Our advantage is also a research department, which is both sell side and buy side and has the far most extensive and regular coverage of domestic companies. We cover 9 companies on Ljubljana Stock Exchange, which is around 90% of Mcap on LJSE – and here we are practically the only local broker providing this kind of extensive and regular coverage for Slovenian companies.
A part of ALTA Group are ALTA Skladi, a mutual fund asset management company with roughly EUR 260m of asset under management. ALTA Group is also extensively involved in corporate finance projects and raised considerable assets (fixed income and equity) in the last two years for several companies.
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