Apr 2, 2026

Alkaloid Receives Plaque as the Longest-Listed Joint-Stock Company on the Macedonian Stock Exchange

Alkaloid AD Skopje has been present on the Macedonian Stock Exchange since 1996, initially trading on the Third Unofficial Market, and since November 2002 has been listed on the First Official Market, where it has built a strong reputation as one of the most liquid and transparent companies.

On the occasion of the jubilee marking 30 years since the introduction of organized securities trading in Macedonia, the Macedonian Stock Exchange hosted a ceremonial event attended by representatives from public institutions, the financial sector, the business community, and long-term partners.

During the ceremony, commemorative awards were presented to several entities associated with the Exchange’s operations, including Alkaloid. The plaque recognizing the longest-listed joint-stock company was accepted on behalf of Alkaloid by its Chief Executive Officer and MB President, Zhivko Mukaetov.



From the launch of the Exchange in 1996, Alkaloid shares traded on the Third Unofficial Market, where they consistently ranked among the most liquid. The move to the First Official Market was approved by a decision of Alkaloid’s Management Board on 7 October 2002. Subsequently, on 13 November 2002, the Listing Agreement was signed by the then Chief Executive Officer of the Company, Trajche Mukaetov, and the then Director of the Exchange, Evgeni Zografski. Trading on the Official Market commenced the following day, on 14 November 2002, positioning Alkaloid among the country’s first listed companies.


The listing ushered in a period of significant changes. Investment decisions began to rely on verified and publicly disclosed information, replacing speculation-driven trading. The Company undertook an obligation to ensure regular disclosure of financial reports, along with updates on its performance and operations. Reflecting on the listing at the time, Trajche Mukaetov noted:



“We invested EUR 37 million of our own resources in the construction of new production plants, which are expected to soon begin delivering returns. The decision to list was made solely in the interest of Alkaloid AD, as we have never been, nor are we content to be, a company operating solely at a local level.

At the time of listing on the First Official Market, the average trading price of Alkaloid shares stood at MKD 1,350, while the net dividend per share for 2001 amounted to MKD 58.43. By 2025, the average share price had risen to MKD 27,468, representing an increase of approximately 20 times compared to 2001. The Company is set to distribute a net dividend of MKD 648 per share for 2025.