First initial public offering of shares (IPO) launched

The Securities Commission adopted a decision granting approval to the energy company Fintel energija a.d. Beograd to make public a single prospectus for public offering and admission of shares to the regulated market, at its 65th session of the IX term of office held on 20 July 2018.

The issuer is allowed to make public a single prospectus for a public offering of III issue of ordinary shares (6,500,000 shares of individual accounting value of RSD 0.153, CFI code ESVUFR, ISIN RSFINEE60549) and their admission to the regulated market and the admission of 25,000,000 already issued ordinary shares registered with the Central Securities Depository with the same CFI code and ISIN.

On Wednesday 25 July, a single prospectus was made public, for the public offering of shares of the company Fintel energija and their admission to trading on the regulated market. The prospectus was published on the issuer's website (, the website of the agent and the underwriter M&V Investments ( and on the website of the Belgrade Stock Exchange ( This officially launched the process of a first initial public offering (IPO) in Serbia.  

Fintel is planning to raise EUR 27.5 million, through the issue of 6,500,000 ordinary shares, of the issue value of RSD 500 per share.

The subscription and payment of shares of Fintel Energija will be carried out by the investment firm M&V Investments and branch offices of Komercijalna banka, as specified in the prospectus.

It will last until 29 October 2018, after which the shares will be admitted to trading to the Prime Listing of the Belgrade Stock Exchange.