Aluminij Shares Traded Even After Company Ceased Operations

SARAJevo, (Patria) – Aluminij shares are being traded despite the Mostar-based company ceasing operations, following multi-million KM debts to suppliers, including a debt of almost 300 million KM for electricity, the Patria agency reports.

According to data from the Sarajevo Stock Exchange (SASE), 189 Aluminij shares were traded today at a price of 75 KM per share (total 14,175 KM). The share price on Friday fell by 1 KM compared to Wednesday, July 17, when 288 Aluminij shares were traded at a price of 76 KM per share.

Aluminij's management sent a letter on July 2, informing the institutions of the Federation of BiH and the public that Aluminij's facilities would be shut down on Saturday, July 6, one minute past midnight. That deadline was extended to July 10, after which the company was disconnected from the power grid.

In the meantime, on July 8, 195 Aluminij shares were also traded for a price of 14,625 KM, or 76 KM per share.

As of July 19, the Government of the Federation of BiH holds 43.9 percent of Aluminij shares, the same as small shareholders, while the Government of Croatia holds 12 percent of Aluminij shares.