economy
January 24, 2026
Šta će biti s malim akcionarima NIS: Da li je isplativo ukoliko MOL i Srbija ponude otkup akcija?
Više od godinu dana mali akcionari Naftne industrije Srbije (NIS) posmatraju svoju imovinu, bez mogućnosti da je prodaju, dok se oko kompanije gomilaju izazovi i nejasnoće.
TL;DR
- Small shareholders of NIS have been unable to sell their shares for over a year.
- The potential sale of the Russian majority stake (56.15%) in NIS to Hungarian energy group MOL could trigger a takeover bid.
- If MOL acquires the Russian stake, they are legally obligated to make a takeover offer to remaining shareholders as they would surpass the 25% control threshold.
- Currently, small shareholders hold just under 14% of NIS shares, with the Republic of Serbia holding nearly 30% and Russian partners holding the rest.
- Trading of NIS shares has been suspended since January 14, 2025, due to US sanctions, and has not resumed.
- The share price was last traded at 718 dinars, nearly 30% lower than its peak over a decade ago.
- There are 2,040,365 domestic and 128 foreign small shareholders in NIS.
- Experts suggest that while some shareholders may sell, it's unlikely to be a dominant trend, considering geopolitical factors and potential future optimism in the energy sector.
- There is a call for a fair approach to small shareholders in the final transaction, ensuring they can sell at a fair price if they wish.
- Ignoring small shareholders' positions could harm the development of the domestic capital market.
- Proposals include state intervention to ensure a fair takeover offer price or for the state to directly acquire shares from small shareholders to increase its own stake in NIS.
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