Page 151 - SE Outlook Regions 2023

5.0 Markets outlook

5.1 Markets - Albania

The Albanian Securities Exchange (ALSE) is the first private capital
securities exchange in Albania. ALSE was launched by a group of
financial markets specialists and intended as a fresh start for the
Albanian capital market after the Tirana Stock Exchange (TSE) never
had a single listed security in its 18 years of operation. Government
securities are currently traded on the ALSE. However, pre-pandemic
talk of IPOs of major Albanian companies on the new exchange never
came to fruition.

5.2 Markets - Bosnia & Herzegovina

There are two stock exchanges in Bosnia - the Sarajevo Stock
Exchange (SASE) in the Bosnian Federation, and the Banja Luka Stock
Exchange (BLSE) in Republika Srpska.

The turnovers of the two bourses are not high as the stock market in
Bosnia is not well developed. In the past years, most of the turnover
comes from trading in entity government securities, with very low
amounts of trading in company shares.

According to official data from the stock exchanges, in 2021, the total
turnover on the SASE was BAM321.1mn, and on the BLSE it was
BAM268.4mn. In the first six months of 2022, the total turnover on the
SASE was BAM245.1mn, and on the BLSE it was BAM210.6mn.

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