Business News

Investment Firm Alta to be Listed

Ljubljana, 31 May (STA) - Alta Group, a financial firm established with the merger of three investment and stock brokerage firms, will be listed on the Ljubljana Stock Exchange as of Monday.

The Alta Group, which will be quoted under the SMPR tag in the basic market, said the listing was part of efforts to bolster its market presence after last year's merger.

The group was established with the joining of investment firms Medvesek Pusnik, Publikum and Poteza, forming one of the biggest investment firms in the country and the biggest stock broker.

Launching operations in July 2010 after clearance from anti-trust authorities, the group has since carried out a 6.5-fold increase in its capital with a fresh subscription of shares.

At the time of the merger, the group managed EUR 210m in assets, which has risen to EUR 230m in the first quarter of this year, giving it a 7.9% share among investment fund operators in Slovenia.

Meanwhile, the group generated EUR 90.1m in revenues from stock brokerage in the first quarter of the year, giving it a 26% market share in Slovenia.

The group has seen brokerage revenues rise significantly from last year, when it generated EUR 118m in the second half of the year.

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