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- When will Vzajemna shares start trading on the stock exchange?
- The listing of Vzajemna shares in the Standard Market of the Ljubljanska borza is scheduled for 4 March 2026.
From that date onwards, the shares will be freely tradable, like all other securities listed on the stock exchange. After listing, Vzajemna shares will be traded between 9:14 a.m. and 3:28 p.m. on every business day when the Ljubljana Stock Exchange is open.
- How much will the shares be worth on the stock exchange?
- The stock exchange represents a transparent market where the price is formed based on supply and demand. Price movements cannot be predicted. The price is determined by submitted orders and executed transactions. In the case of excess demand (buying) for a share, the price will generally rise, while in the case of excess supply (selling), the price will typically fall.
Vzajemna’s long-term business performance is the most important factor affecting returns and the share price. If Vzajemna operates successfully (with higher profits), shareholders may receive dividends and the market price may increase. In the case of poor business results, the share price may fall and shareholders may not receive dividends.
- How can I place an order to buy or sell Vzajemna shares?
- You can place your order to buy or sell Vzajemna shares through your stockbroker. All members of the Ljubljanska borza also allow orders to be submitted via their website or mobile application.
At the moment when two matching orders (a buy and a sell order at the same price) meet on the market, a transaction is concluded. Transactions on the Ljubljana Stock Exchange are settled at KDD within two business days after the trade is executed. The official price on a given trading day is the price of the last executed transaction of that day.
A key advantage of stock exchange trading is transparent price formation. All orders and executed transactions on the exchange are public. The data can always be checked on the Ljubljana Stock Exchange website (Official Price List) or with your broker.
Shares can also be traded outside the stock exchange. In this case, you generally have to find a buyer or seller yourself, and the costs are usually higher than exchange trading. The price may be less favorable than on the exchange, trading data cannot be verified, and such transactions do not affect the official market price.
- What are the costs?
- A trading account and the disposal of shares involve certain costs. These include fees for the services of the institution where you opened your trading account, fees of the Central Securities Clearing Corporation (KDD), where your shares are held, and fees of the Ljubljana Stock Exchange (only in the case of trading).
Most institutions have prepared discounts in connection with Vzajemna shares compared to their standard fee schedules. Your broker must always provide you with information about the applicable costs.
- What is an Individual Investment Account (IIA)
- An IIA (Individual Investment Account) is a special type of trading account that will be available from March 2026. It features significantly more favorable tax treatment and greater administrative simplicity compared to a standard trading account. It is also expected that the costs associated with an IIA will be lower than those of a regular trading account.
For example, if Vzajemna were to pay dividends in the future, these would be tax-exempt if the investor holds the shares in an IIA account. Vzajemna shares are the only shares that can be transferred into an IIA as a contribution of assets. More detailed information can be obtained from your broker.
- Whom can I trust regarding Vzajemna shares?
- First and foremost, you can turn to your stock exchange member or provider with whom you opened your trading account or Individual Investment Account (IIA). Based on legislation and your business relationship, they are obliged to protect your rights and provide you with comprehensive and accurate information. Information will certainly also be provided publicly by many other individuals—journalists, financial experts, and others. When assessing such information, it is important to verify the expertise and reliability of the source.
Information on the company’s operations and the exercise of shareholder rights is also provided by Vzajemna. Financial information will be published by Vzajemna through the SEOnet system and on its website. Information on trading is available from the Ljubljanska borza, while information on the custody of shares is available from KDD.
Supervision of the securities market is carried out by the Agencija za trg vrednostnih papirjev. If you believe your rights have been violated, you may file a complaint with this authority.
In relation to Vzajemna shares, do not trust entities that do not hold a license to provide investment services or activities. Such entities are not bound by investor protection rules applicable to licensed providers and may not have fair intentions. If you are unsure whether a particular entity is authorized to provide investment services or activities, you can verify this with the Securities Market Agency.
- What risks are associated with Vzajemna shares?
Holding shares always involves certain risks. These risks may be related to trading (such as a decline in the stock exchange price, insufficient liquidity, etc.), to the shares themselves (e.g. changes in tax treatment), or to the issuer (deterioration of the company’s performance, changes in future prospects, or other events).
You can read more about the risks in the prospectus for the listing of shares on the regulated market, published by Vzajemna. The prospectus is available on Vzajemna’s website and on SEOnet (Ljubljanska borza - SEOnet).
- What happens in extraordinary circumstances?
- Takeover Bid
A takeover bid is an offer to purchase all shares that are not yet owned by the bidder. It ensures that existing shareholders can sell their shares under equal conditions. A takeover bid is an extraordinary event and may never occur. It is also not necessarily successful. It may be made at any time, but its success is not guaranteed.
In the event of a takeover bid, shareholders are not obliged to sell their shares. If the bidder acquires at least 75% of all shares, they are no longer required to make further takeover bids.
Squeeze-out of Minority Shareholders
If an individual shareholder acquires 90% of all Vzajemna shares, they may squeeze out the remaining shareholders from the company in exchange for cash compensation (so-called squeeze-out). In this case, regardless of your will, you would cease to be a shareholder and would receive cash compensation for your shares.
Delisting of Shares
When shares are withdrawn from trading on the stock exchange, this is referred to as a delisting. In this case, the shares can no longer be traded on the exchange, and Vzajemna is no longer required to publish all information about its operations. The decision to delist shares is made by shareholders at the general meeting. Delisting is possible immediately if approved by shareholders representing 90% of the share capital. If approved by a 75% majority, the delisting may be carried out within two years. Shareholders who oppose the delisting at the general meeting receive cash compensation for their shares, and the company acquires their shares.
