Podravka raised both liquidity and Crobex last week

On the Zagreb Stock Exchange last week, Crobex indices rose sharply, as did trading volume, primarily due to trading in Podravka shares, as the Fortenova Group selected this Koprivnica company as a strategic partner for the sale of Fortenova’s agricultural business.

The Crobex index rose by 1.84 percent last week to 2,865 points, and Crobex10 by 2.58 percent to 1,724 points, mainly thanks to strong gains on Friday.

Most sector indices also increased, with Crobexindustry rising by 2.54 percent. Only Crobextransport fell, by 2.14 percent.

The regular trading volume reached 7.78 million euros, which is 3.5 million more than the previous week.

Additionally, a block trade of 4.6 million euros was achieved in a transaction involving four shares. The Istrian Credit Bank share achieved a block trade of 2.73 million euros at a price of 414 euros per share, Atlantic Group’s share 817.5 thousand euros at a price of 54.5 euros, Adris’ preferred share 531 thousand euros at a price of 50 euros, and Končar’s share 520 thousand euros at a price of 260 euros.

The highest regular trading volume was recorded by Podravka’s share, at 3.5 million euros, with its price jumping 5.7 percent to 167 euros, close to record levels.

On Friday, it was announced that, after evaluating the binding offers received during the interest assessment in the process of selling the companies in the Agriculture Business Area, the Fortenova Group assessed Podravka’s offer as the overall best.

Accordingly, an Exclusive Negotiation Agreement was signed between the companies, under which the Fortenova Group will continue the negotiation process for concluding the purchase agreement only with Podravka. The Agriculture Business Area of the Fortenova Group includes the companies Belje, PIK Vinkovci, Vupik, Energija Gradec, Belje Agro-Vet, and Felix.

Following in liquidity was the HT share, which achieved a trading volume of 436 thousand euros, with its price rising by 0.67 percent to 30.2 euros.

With similar trading volume, the price of Atlantic Group’s share stagnated at 55 euros.

Investors were also focused on Končar’s share, which traded for 380 thousand euros. Its price jumped 5.47 percent to 270 euros.

Representatives of Končar and Siemens Energy signed a joint venture agreement on Friday, collaborating in a company called Končar – Transformer Boilers, whose activity will be the production and sale of transformer boilers. The goal of the collaboration is to establish a jointly owned company in which Končar will hold a 60 percent majority stake, while Siemens Energy will have a 40 percent share. As part of the project, Končar plans to build a plant for the production of transformer boilers in Sesvete.

Significant trading, at 379 thousand euros, was also achieved with the share of Ericsson Nikola Tesla, whose price fell by 0.51 percent to 194 euros.

The biggest winner last week was the share of the Institute IGH, with a price increase of 21.7 percent to 15.7 euros. On the other hand, among the more liquid shares, the biggest loser was the share of Zvečevo, with a price drop of 8.4 percent to 35 euros.

A total of 52 shares were traded on the ZSE last week, with the price of 21 rising, 18 falling, and 13 stagnating.