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Launch of the SME pre-listing Programme in Slovenia

Published: 27.07.2018.

The Ljubljana Stock Exchange, in collaboration with the European Bank for Reconstruction and Development (EBRD), invites eligible companies interested in accessing capital market finance to apply here for assistance under a new SME Pre-listing Support Programme.

We are looking for enterprises that wish to raise finance through the domestic capital market, either through a corporate bond issuance or initial public offering (IPO) on the Ljubljana Stock Exchange.

As a shortlisted enterprise you will receive a planned, comprehensive programme of technical assistance and advice tailored to your specific needs for capital market funding. This programme may include operational, managerial and technical advisory aimed at creating a value proposition that will support your route to the capital market. It will also include efforts to raise standards of corporate governance and of financial management and reporting. In addition, we will deploy experts who can strengthen your ability to develop targeted marketing campaigns for investor relationships. These experts will also help you to meet the technical requirements for a corporate bond issuance or IPO.

The advice will be free of charge and will cover all relevant technical and operational aspects of conforming to capital market requirements. Assistance will be provided over a period of up to 18 months and delivered by local and international advisers, selected by the EBRD in consultation with your enterprise.

The EBRD and the Ljubljana Stock Exchange expect a strong commitment from firms selected to participate in this SME Pre-listing Support Programme. Our support will be complete when your company is ready to enter the formal listing process and once you have selected an investment bank. Your company will be expected to cover the costs related to these final steps.

Who is eligible?

Whether you are a family-owned business planning succession, a privatised firm or a revenue-generating start-up seeking new equity, we are looking for committed, transparent and financially viable enterprises operating in a wide range of sectors and headquartered in Slovenia.

We cannot engage with:

  • companies that have more than: €50 million in turnover, €43 million in balance sheet totals or 500 employees
  • companies that operate in military activities or production, in tobacco, gambling or financial services
  • companies that do not comply with the EBRD’s standards of integrity and compliance (see link)

To apply, please download and complete the application form by 31 August 2018 and email it together with scanned supporting documents toprelistingsupport@ebrd.com.


Largest Croatian owned bank HPB and the Zagreb Stock Exchange (ZSE) signed an exclusive agreement

Published: 24.05.2018.

Largest Croatian owned bank HPB and the Zagreb Stock Exchange (ZSE) signed an exclusive agreement to encourage the development of small and medium-sized enterprises and finance through the capital market.

This is a program that enables small companies to access capital on the Progress Market by issuing securities. HPB will provide support and advice, and more favorable Bank loans and financial services.


HUP round Table "Financing Micro, Small and Medium Enterprises: Where is capital for growth?"

Published: 23.05.2018.

On the HUP round Table Financing Micro, Small and Medium Enterprises: Where is capital for growth? was about encouraging small and medium-sized entrepreneurs to use capital market instruments.

HUP

"There is trend in loan growth in Croatia. But without the development of capital markets for small and medium-sized enterprises, the quality of growth is questionable " said Mr. Velimir Šonje, Director of Archival Research and Boris Centner, Member of the Board of Erste Bank.

The Progress Market is highlighted as an example of a private initiative, necessary for Croatian entrepreneurs, with emphasis on the importance of creating venture capital funds, which would support equity financing and encourage the reduction of debt financing by entrepreneurs.


Ljubljana and Zagrebačka Stock Exchange approved new authorized advisors

Published: 23.05.2018.

Ljubljana and Zagrebačka Stock Exchange approved new authorized advisors for the new multilateral trading platform intended for small and medium-sized enterprises Progress.

The Ljubljana Stock Exchange approved 4 authorised advisors:

  • BUDS d.o.o.
  • L3 Consulting Group d.o.o.
  • P&S Capital
  • RSG Kapital

The Zagreb Stock Exchange has included a new company in its Register of authorised advisors:

  • Vobco d.o.o.

The role of the Adviser is to prepare the issuer for functioning on the Progress segment of the MTF market, the preparation of the Document on the classification of securities of the issuer onto the Progress segment and the monitoring of the issuer after the listing of its securities onto the Progress segment for a period of at least two years from the date of listing so that the issuer fulfils the obligations and conditions as determined by the SI ENTER Rules and Rules of the Ljubljana Stock Exchange.


Ljubljana Stock Exchange has joined the UN's Sustainable Stock Exchange Initiative

Published: 15.05.2018.

Ljubljana Stock Exchange is delighted to announce that on 11 May 2018 it joined the United Nations initiative called the Sustainable Stock Exchange Initiative. The purpose of the partnership initiative is to promote and stimulate the capital market in the following key areas: transparency of the business of public companies, promotion of gender equality, promotion of the market of small and medium-sized enterprises, and the development and promotion of the capital market for financing environmentally friendly projects.

The Ljubljana Stock Exchange will actively participate in all of the above-mentioned areas with mechanisms for informing the public and organizing dedicated events. The activities of the development of the market for small and medium-sized enterprises will be implemented through the development of the MTF Market and the implementation of the educational and remediation content of the Partner Program for SMEs. Within the Progress market, we will develop and actively promote the green financing segment, as envisioned by the Green Bond Principals.

More information regarding Partner Programme is available at the following link.


Notice on granting the status for PROGRESS Segment Advisors on the SI ENTER Market

Published: 15.05.2018.

Ljubljana Stock Exchange has, for the purpose of functioning of the SI ENTER MTF market, PROGRESS segment, dedicated to the issuance of securities of small and medium-sized enterprises, on 11 May 2018 granted the status of the Adviser to the following companies:

  • BUDS d.o.o.
  • L3 Consulting Group d.o.o.
  • P&S Capital
  • RSG Kapital

The role of the Adviser is to prepare the issuer for functioning on the Progress segment of the MTF market, the preparation of the Document on the classification of securities of the issuer onto the Progress segment and the monitoring of the issuer after the listing of its securities onto the Progress segment for a period of at least two years from the date of listing so that the issuer fulfils the obligations and conditions as determined by the SI ENTER Rules and Rules of the Ljubljana Stock Exchange.


Progress Market presentation in Split

Published: 06.04.2018.

Zagreb Stock Exchange invites all interested parties to join the Progress Market Show in Split on April 16, 2018. Detailed information can be found on the link.


New authorised advisor on the Progress market

Published: 21.03.2018.

For purpose of launching a new multilateral trading platform intended for small and medium-sized enterprises Progress, the Zagreb Stock Exchange d.d. announced a call for applications for the status of authorised advisor for the Progress Market.

The great interest of companies with sufficient knowledge and experience to be able to properly perform the authorised advisor's duties, showed that interest in developing new products on the capital market still exists in Croatia, and in parallel, establishing a new branch in the field of business and financial consulting.

New company that fulfilled the status of authorised advisors on the Progress market is:

  • VICTORIA CONSULTING D.O.O.

Progress market now counts the total of twelve companies that had fulfilled conditions for the status of authorised advisor.

All interested companies eligible for authorised advisor status can still submit their applications in accordance with the terms and conditions of the application, available on the Multilateral Trading Platform Progress web site.


Presentation of Progress Market at the 9th Lider Conference on "The Future of Family Businesses"

Published: 02.03.2018.

The Progress Market was presented at the 9th Lider Conference on "The Future of Family Businesses", held in Zagreb, on 23 February, 2018. The aim was to present the capital market as one of the options that entrepreneurs should take into consideration when it comes to transferring ownership or business. We discussed how to develop a culture of investment, whether there are investors who are interested in SME, and whether we can compare Croatia to developed countries.

Panel discussion was attended by: Vedrana Jelušić Kašić: EBRD Croatia Director, Jadranka Mršić Hebrang: Head of HBOR's SME Loan Department, Tihomor Starčević: Founder and Director of Excel Computers and Morana Plejić: Head of Progress Market.

Lider konferencija

Ms. Mirela Alpeza, the director of CEPORmoderated the panel, opening up the issue of financing through equity. On this occasion, we emphasized how the goal of the Progress Market is to develop the supporting ecosystem, and continue education of participants, in order make capital market more approachable to small and medium-sized entrepreneurs.

Thanks, Lider media d.o.o. on organizing the conference and updating this important topic.


Invitation to Progress Market presentation

Published: 13.02.2018.

The Croatian Chamber of Economy and the Zagreb Stock Exchange are organizing the presentation of the Progress Market, a platform for financing small and medium-sized companies, which will be held on Wednesday, February 14, at 10 pm in the Croatian Chamber of Economy, at Roosevelt Square 2, Zagreb.

Participation is free of charge, with prior registration via the online application form on this link. The expected presentation time is up to 11 hours.

If you have any questions about the Progress market that you would like to receive a response to, submit them by February 9 at progress@zse.hr.

We invite you to respond and join the presentation.


Progress Market start 2018 with the new authorised advisors

Published: 24.01.2018.

For purpose of launching a new multilateral trading platform intended for small and medium-sized enterprises Progress, the Zagreb Stock Exchange d.d. announced a call for applications for the status of authorised advisor for the Progress Market in the first week of November 2017.

Companies have shown great interest in acquiring the status of an authorized advisor, and the same trend continues in 2018.

With existing nine advisors, two more companies will enroll register of authorized advisors on Progress market:

  • ALPHA CAPITALIS D.O.O.
  • ALCINA D.O.O.

Progress market now counts the total of eleven companies that had fulfilled conditions for the status of authorised advisor.

All interested companies eligible for authorised advisor status can still submit their applications in accordance with the terms and conditions of the application, available on the Multilateral Trading Platform Progress web site.


Zagreb Stock Exchange announced new authorised advisors for the Progress Market

Published: 20.12.2017.

Progress market launched for the purpose of raising capital in Croatia and Slovenia, shows great potential judging by the number of companies applying for the status of authorised advisor.

Within one month from the call for applications for authorised advisors, a total of 9 companies had fulfilled the conditions for the authorised advisor status to future issuers.

Start of a new multilateral trading platform for small and medium-sized companies is expected in the first quarter of 2018, but at the end of the 2017, and on Progress market we approved two new advisors.

New Croatian companies that have fulfilled the conditions for advisor status on the Progress market are:

  • ICF D.D.
  • ASTRA POSLOVNI INŽENJERING D.O.O.

Names of the authorised advisors will be published on the Progress website in Authorised advisors category.

All interested companies eligible for authorised advisor status can still submit their applications in accordance with the terms and conditions of the application, available on the Multilateral Trading Platform Progress web site.


Zagreb Stock Exchange announced new authorised advisors for the Progress Market

Published: 11.12.2017.

The Zagreb Stock Exchange initiative launched for the purpose of developing the Croatian and Slovenian capital markets for small and medium-sized companies, shows success at the very beginning.

The great response of the companies showed that interest in developing new products on the capital market still exists in Croatia, and in parallel, establishing a new branch in the field of business and financial consulting.

Croatian companies in the second stage selection, that fulfilled the status of authorised advisors on the Progress market are:

  • INTERKAPITAL VRIJEDNOSNI PAPIRI D.O.O.
  • SENSE SAVJETOVANJE D.O.O.
  • ASCENDANT D.O.O.

Names of the authorised advisors will be published on the Progress website in Authorised advisors category.

All interested companies eligible for authorised advisor status can still submit their applications in accordance with the terms and conditions of the application, available on the Multilateral Trading Platform Progress web site.


Zagreb Stock Exchange announced first authorised advisors for the Progress Market

Published: 28.12.2017.

For purpose of launching a new multilateral trading platform intended for small and medium-sized enterprises Progress, the Zagreb Stock Exchange d.d. announced on 2nd November 2017 a call for applications for the status of authorised advisor for the Progress Market.

We thank you for numerous applications ,the great interest of potential advisors shown that Progress platform launched for the Croatian and Slovenian markets has already found its place in meeting the increased needs of small and medium-sized enterprises for additional capital.

Croatian companies that first fulfilled the status of authorised advisors on the Progress market are:

  • HITA VRIJEDNOSNICE D.D.
  • MAZARS CINOTTI CONSULTING D.O.O.
  • N3 CAPITAL PARTNERS D.O.O.
  • DENVES CONSULTING D.O.O.

Names of the authorised advisors will be published on the Progress website in Authorised advisors category.

All interested companies eligible for authorised advisor status can still submit their applications in accordance with the terms and conditions of the application, available on the Multilateral Trading Platform Progress web site.


"Progress" presented on the "Požega in 2025" forum

Published: 09.11.2017.

The new trading platform Progress was presented on the second Požega Economic forum on topic "Požega in 2025 - the steps towards change", organized by City of Požega Association and City of Požega friends, on 3 November 2017.

Forum Požega 2025

A panel discussion on "Alternative Financing Methods" presented past experiences and opportunities that the leading financial institutions in Croatia offer to small and medium-sized entrepreneurs. The purpose of the debate was to encourage companies to think outside the box when talking about financing in our region. The Progress Platform is mentioned as one of the initiatives and example of alternative financing, launched by the Zagreb Stock Exchange for the purpose of supporting small and medium-sized entrepreneurs.


Zagreb stock exchange announces a call for acquiring the status of authorised advisor for the Progress market

Published: 02.11.2017.

For purpose of launching new multilateral trading platform Progress, intended for small and medium-sized enterprises, the Zagreb Stock Exchange Ltd has announced a call for applications for the status of auhorised advisor for the Progress Market.

Croatian small and medium-sized enterprises are employing the largest number of employees and make up the vast majority in private-sector business in the country. Still, Croatian SME’s lag behind the European average of their participation in value-added share and employment due to more difficult access to finance, including access to equity and credit instruments.

Progress is a platform for the realization of investment plans of small and medium-sized enterprises, either through IPO or technical listing, to facilitate a change in ownership. Companies will be led through the process of admission and trading by authorised advisors.

All companies eligible for advisor status can submit their applications in accordance with the terms and conditions of the application, which are available on the Multilateral Trading Platform's website.