Dunav Osiguranje sold its stake in Imlek

Belgrade-based Dunav Osiguranje was the biggest seller of Imlek's shares in last week's transactions, when the value of shares again reached its maximum in the last two years and amounted to RSD 2,300 per share.

Dunav has sold its whole stake in the largest domestic dairy industry, while the portfolio investor whose custody account is run by Banca Intesa was the one to "blame" for the increase in price of these securities.

Last month, Dunav Osiguranje was the largest seller of shares on the Belgrade Stock Exchange and this activity can be brought in connection with the company's increased expenses incurred for expansion to the banking sector (takeover and recapitalization of Kosovsko-Metohijska Banka) and payment of compensation to Simpo for the insured loans that have not been collected.

The largest domestic insurance company sold 1.4% of shares of Komercijalna Bank in January, as well as its whole stakes in Telefonija and Energoprojekt and a small part of the stake in Tehnogas.