Page 158 - SE Outlook Regions 2023

5.11 Markets - Slovenia

The SBI TOP benchmark index on the Ljubljana bourse lost 16.9% in
2022, after rising by almost 40% the year before, according to bourse
data.

Head of the Ljubljana Stock Exchange (LJSE) Ales Ipavec in November
expressed optimism regarding the development of the Slovenian capital
market, following comments in recent years suggesting that it is
underdeveloped.

After growing by almost 40% in 2021, the SBI TOP blue chip index has
lost 15% in 2022, but Ipavec noted this was comparable to other
indices in Central Europe.

The LJSE also attracted two new exchange-traded funds (ETFs) to
increase their number to seven, and the number of market makers is
growing, which he said, was an important indicator during the
COVID-19 crisis.

"Maybe it's time to stop talking about the market lacking liquidity,"
Ipavec said. This year's turnover is expected to exceed €400mn again,
and it has increased by 50% in five years, with the number of
transactions also growing.

According to Robin Gorenscek of the brokerage Ilirika, the Slovenian
market is attractive in terms of dividend yield. The growth in dividends is
expected to continue in 2022, as the nine-month results are
encouraging and better than expected.

Economy Minister Matjaz Han mentioned the advantages of Slovenia

158 SE Outlook 2023 www.intellinews.com