Quick profit through HET, shares sold to unknown buyer before electricity price increase

SARAJEVO, (Patria) - The day before "Hydroelectric Power Plants on the Trebišnjica" (HET) publicly announced that they would increase the price at which they would issue shares in the recapitalization process, a currently unknown investor bought over 1.1 million HET shares for more than 350,000 convertible marks.

The transaction took place on the Banja Luka Stock Exchange on Thursday, February 10, and it is interesting that the price offered for the shares was almost 20 percent higher than the price at which the shares were trading immediately before.

The price per share was 0.26 and 0.27 KM from February 1 to 4, after which there was no trading until the aforementioned large transaction on February 10, when 1.11 million shares were bought at a price of 0.32 KM per share, for a total amount of 358,530 KM.

This purchase occurred on the same day that the HET Supervisory Board made a decision to increase share prices. However, this was revealed the following day, on the afternoon of February 11, when the new price of 0.46 KM per share was publicly announced, at which recapitalization would be carried out.

All of this has caused controversy on social networks, where questions are being raised about whether this involves the disclosure of privileged information by responsible individuals from institutions and companies to third parties who can then buy/sell shares before other market participants and thus gain a certain benefit.

Since CAPITAL discovered HET's intention to recapitalize through share issuance, the price of the company's shares on the stock exchange has increased by about 33 percent to date.

We remind you that after an unsuccessful recapitalization attempt in January, the HET management decided to change the conditions under which it would secure additional funds, so it will issue fewer shares than originally planned, and they also increased the price per share from 0.29 KM to 0.46 KM.