The First Public Offering of the Republic of Srpska Bonds on the Banja Luka SE

The subject of public offering shall be 1,200,000 bonds with nominal value (par value) of BAM 100 per bond. Planned amount of issue is BAM 120,000,000. The price step is 0.01. The bonds subscription shall be on the Banja Luka Stock Exchange via stock exchange's members. Temporary trading symbol is RSRP-PO1.

The public offering of Republic of Srpska bonds shall consist of the following phases:
• Entering of buy orders

Buy orders may be entered each trading day from 8.11.2011 to 15.11.2011 in the period from 8.30 to 11.30 + random time (0-300s).

• Entering of sell order and trades execution

Ministry of Finance will enter sell order on 15.11.2011 in the period from 11.30+ random time to 12.00 and trades shall be executed at the single auction price.
When determining single auction price, the criterion of the largest turnover with the smallest remaining quantity in orders which forms the price, is taken into account in accordance with the Stock Exchange Rules.

It is not allowed to enter new buy orders or to change the existing buy orders during this phase.

• Period after auction

If the whole quantity of offered bonds is not sold in public offering on 15.11.2011, buy orders can be entered from 16.11.2011 to 17.11.2011 in the period from 8.30 to 12.00. Trades shall be executed at a price which is the same as a single auction price determined on 15.11.2011. The trades shall be executed continuously and the public offering will last until the whole quantity is sold or until 17.11.2011 at 12.00 the latest.
The public offering of bonds shall be organized in accordance with the Stock Exchange Rules and Public Invitation for the Bonds of the Republic of Srpska.