CROBEX is the official
share index
In finance, a stock index, or stock market index, is an index that measures a stock market, or a subset of the stock market, that helps investors compare current stock price levels with past prices to calculate market performance.
Two of the pri ...
of the
Zagreb Stock Exchange
The Zagreb Stock Exchange or ZSE ( hr, Zagrebačka burza ) is a stock exchange located in Zagreb, Croatia. It is Croatia's only stock exchange. The exchange trades shares of Croatian companies, as well as bonds and commercial bills.
The ZSE was ...
. As of August 2022, it includes stocks of 22 companies and is calculated continuously using the latest stock prices.
It is measured using
free float
In the context of stock markets, the public float or free float represents the portion of shares of a corporation that are in the hands of public investors as opposed to locked-in shares held by promoters, company officers, controlling-interest inv ...
market capitalization, where the weight of each individual stock is limited to 10 percent.
History
It began to be published on 1 September 1997, and the base date is 1 July 1997, when its base value was 1,000 points.
For a long time, the
Pliva
Pliva d.o.o. is a pharmaceutical company based in Zagreb, Croatia that primarily manufactures and sells generic drugs. It is a subsidiary of Teva Pharmaceuticals.
Pliva is one of the world's largest producers of Generic drug, generic Adderall.
...
stock was one of the main constituents of the index, before the company was sold and de-listed.
In October 2007, its value was around 5,400 points, an all-time high. By March 2009, the index dropped to 1,300 points. In the first half of 2011, it hovered around 2,200 points, falling to below 1,800 by the end of the year. In October 2016, the index broke 2,000 points, the highest level since March 2013.
Inclusion criteria
Stocks have to be traded in more than 75% of the total number of trade days in the selected time period in order to be included into CROBEX. The stock ranking is determined by weighing the stock's
free float
In the context of stock markets, the public float or free float represents the portion of shares of a corporation that are in the hands of public investors as opposed to locked-in shares held by promoters, company officers, controlling-interest inv ...
market capitalization as a proportion of the total, and its traffic as a proportion of the total share traffic in the six-month time period observed.
The index is revised every third Friday of March and September. The Index Commission can revise the index if the following extraordinary events happen:
* bankruptcy or liquidation of a company, increase or decrease in the base capital of a company, takeover, merger.
* removal of a stock listing
* long-term suspension of trade of a stock
There are also other circumstances related to the issuer or the stock that can affect the quality of the CROBEX index that can cause the Commission to revise the index.
A special revision can happen to include a new stock in the index in case the stock, in the first 30 days since its listing date, is traded in 100% of the total number of trade days, taking into account its free float market capitalization and share of traffic.
Composition
The index consists of the following 22 companies, as of the last update in August 2022:
See also
*
CROBIS
*
Zagreb Stock Exchange
The Zagreb Stock Exchange or ZSE ( hr, Zagrebačka burza ) is a stock exchange located in Zagreb, Croatia. It is Croatia's only stock exchange. The exchange trades shares of Croatian companies, as well as bonds and commercial bills.
The ZSE was ...
References
External links
Bloomberg page for CRO:INDCROBEX at the Zagreb Stock Exchange web site
{{Webarchive, url=https://web.archive.org/web/20100812103248/http://www.rast.hr/en/trziste/grafikonii/CROBEX,0.html , date=12 August 2010
CROBEX Intraday ChartCROBEX and other regional indices at FIMA Securities
Financial services companies established in 1997
European stock market indices
Economy of Croatia
1997 introductions