Patient shareholders who have not sold their shares in Hrvatski Telekom will today be awarded bonus shares of this company as a reward. Given that the market has been hit this year by the largest crisis since the establishment of the Zagreb Stock Exchange, and the situation is no better globally, the question arises whether refraining from selling was a good decision.
HT shares are currently trading at a price of 244 kuna, što je 21 kunu manje nego što je bila cijena po kojoj su građani kupovali udjele u najvećoj hrvatskoj telekomunikacijskoj kompaniji u javnoj ponudi. However, minor shareholders of HT are not at a loss yet, as they received a dividend of 29.5 kuna per share a few months ago. When the total amount is supplemented with six bonus shares per package (for every ten shares purchased, shareholders will receive one bonus share), it turns out that citizens have earned 1,999 kuna per package if they decide to sell today.
All this translates into a solid profit of 11.9 percent, but the fact is that due to different circumstances and the importance of the oil industry, INA’s shareholders have fared much better. Owners of HT shares who sold their packages shortly after listing have, as is evident today, made a much better deal. By choosing not to believe analyses that suggested target prices for HT above 400 kuna, those who sold HT at a price of 360 kuna or more earned more than a respectable 35 percent per package. However, as the old saying goes, it is easy to be a general after the battle. (Amir Kulenović)
*The author owns shares of HT.
