InterCapital Securities

​InterCapital is an independent investment company established in 2001, and is one of the leading companies for trading of financial instruments, asset management and investment banking services in the Republic of Croatia, as well as the neighbouring markets of Slovenia, Serbia, Romania and Bulgaria. Both equity and macro analyses provided by our research team help further increase value offered to our clients.

IC After Hours Special: 15 February 2018

Croatia, Slovenia, Serbia, Romania, Bulgaria, Macedonia

IC Market Espresso: 15 February 2018

Croatia, Slovenia, Serbia, Romania, Bulgaria

IC After Hours Special: 14 February 2018

Croatia, Slovenia, Serbia, Romania, Bulgaria, Macedonia

IC Market Espresso: 14 February 2018

Croatia, Slovenia, Serbia, Romania, Bulgaria

IC After Hours Special: 13 February 2018

Croatia, Slovenia, Serbia, Romania, Bulgaria, Macedonia

Macro Outlook Croatia, Serbia, Slovenia - On Steady Road to Recovery

​​Macro Outlook includes:Croatia - Low Growth Trap New Name of the Game for Croatian EconomySlovenia - Start of the New EU Funding Period Brings about a Setback in Economic ActivitySerbia - Strengthened Private Consumption Shoulders GDP Growth

Equity Outlook 2016 SEE Markets: Croatia, Slovenia, Romania, Serbia, B...

​As the year 2015 is passing by we wanted to use the opportunity to provide an outlook for the next year based on our continuous work and locally gathered insights. Namely, over the past year we organized over 100 meetings with companies in the region which on average represents meeting each company from our coverage at least 2 - 3 times during the year. The primary reason for travelling remains development of trust with the management teams and gathering better understanding of the regional b...

Macro Outlook: Croatia, Slovenia, Serbia

​Macro Outlook includes:Croatia - The Worst is Behind the Croatian Economy, but Challenging Times still AheadSlovenia - Export-Fueled Recovery Needs Investment Growth to Achieve SustainabilitySerbia - Unstable Recovery Generated by Exports Growth, but Inhibited by Fiscal Deficit Cut

Tomislav Bajić
  • Tomislav Bajić

Note - Negotiations With Electrica, Low Oil Prices Marked Q1

​Fondul Proprietatea is a closed-end investment fund trading on the Bucharest Stock Exchange and London Stock Exchange through GDRs. The Fund’s portfolio consists of 47 companies mostly in energy sector. At present, total number of listed companies is 13 and rest of the portfolio includes non-listed names and cash. Due to its specific structure the only objective method of the Fund’s valuation is sum of the parts method (“SOTP”) which is in our opinion optimal for determining Fund’s ...

FP Coverage Initiation - Proxy for Romania

Fondul Proprietatea is a closed-end investment fund trading on the Bucharest Stock Exchange and London Stock Exchange through GDRs. The Fund’s portfolio consists of 48 companies mostly in energy sector. At present, total number of listed companies is 14 and rest of the portfolio includes non-listed names and cash. Due to its specific structure the only objective method of the Fund’s valuation is sum of the parts method (“SOTP”) which is in our opinion optimal for determining Fund’s val...

IC Market Espresso: 5 September 2017

Croatia, Slovenia, Serbia, Romania, Bulgaria

IC After Hours Special: 4 September 2017

Croatia, Slovenia, Serbia, Romania, Bulgaria, Macedonia

IC Market Espresso: 4 September 2017

Croatia, Slovenia, Serbia, Romania, Bulgaria

IC After Hours Special: 1 September 2017

Croatia, Slovenia, Serbia, Romania, Bulgaria, Macedonia

IC Market Espresso: 1 September 2017

Croatia, Slovenia, Serbia, Romania, Bulgaria

ResearchPool Subscriptions

Get the most out of your insights

Get in touch