After TechNova’s shares have been traded for a few months, a local investor named Adnan decides to sell his shares through the Sarajevo Stock Exchange to another investor. The company does not receive any new funds in this process; only the ownership changes hands between private investors. The price of the shares depends on market demand and supply. Which financial market is this?

The Ministry of Finance of Bosnia and Herzegovina issues 90-day Treasury bills to cover short-term budget needs. Banks and investors buy these securities because they offer safety and quick liquidity. The government promises to repay the full amount after three months with minimal interest, and these instruments are considered almost risk-free. Which financial market is this?

A steel manufacturing company decides to raise funds to build a new production plant. It issues 10-year corporate bonds that will pay 6% annual interest to investors. Investors purchase these bonds, expecting long-term returns and steady income. The company plans to use the capital for modern machinery and technology improvements. Which financial market is this?

A medium-sized firm faces a temporary cash shortage and issues 3-month promissory notes to cover operating costs. Local banks and investors seeking safe, short-term returns purchase the notes, and the firm will repay them with a small interest once receivables are collected. Which financial market is this?

An investor notices Tesla shares have risen and sells her shares through the stock exchange, realizing a profit. The buyer is another investor, not Tesla, so the company’s total capital remains unchanged. Which financial market is this?

A clothing retailer FashionWave wants to open stores in Croatia and Serbia. To gather funds, it issues new shares and sells them directly to current and new shareholders to expand operations abroad. Which financial market is this?

An energy company issues 20-year bonds directly to pension funds and institutional investors, agreeing to pay fixed annual interest and return the principal at maturity to finance renewable energy plants. Which financial market is this?

A young entrepreneur develops a new delivery app and invites private investors to buy shares in her business, giving them a percentage of ownership and future profits with no obligation to repay them. Is this equity or debt financing?

A telecommunications company issues corporate bonds worth €10 million, promising a fixed interest rate of 5% and repayment after 10 years, regardless of project profitability. Is this equity or debt financing?

A large supermarket chain issues commercial paper with a 60-day maturity to buy inventory before the holiday season. Banks and investors seeking quick returns buy the paper, and the company repays them after holiday sales. Which financial market is this?

The government launches an infrastructure bond program with 15-year maturities to fund roads and bridges. Investors expect stable long-term returns. Which financial market is this?

A local café owner seeks funds to open two new locations. Angel investors provide money in exchange for partial ownership, expecting dividends and future growth. Is this equity or debt financing?

BioHealth Ltd. goes public for the first time through an Initial Public Offering (IPO) on the Sarajevo Stock Exchange, selling shares directly to the public to fund laboratory expansion. Which financial market is this?

A mutual fund buys already existing government bonds from another investor at current market prices, with the issuer not participating in the transaction. The trade occurs between investors through a broker. Which financial market is this?

A car manufacturer issues bonds to raise €50 million for a new production line, promising investors fixed annual interest and repayment of principal at maturity without giving ownership rights. Is this equity or debt financing?

A pharmaceutical company decides to issue preferred shares to raise funds for new drug research. Investors receive dividends but have no guaranteed repayment or fixed interest. The company uses the raised money for long‑term growth in the medical field. Is this equity or debt financing?

A telecommunications company named EuroNet launches a public sale of new shares to finance a €200 million expansion project. The shares are offered directly to investors for the first time. The money raised will be used to expand fiber‑optic networks across the region. Which financial market is this?

A Bosnian bank buys newly issued five‑year government bonds to earn steady interest payments. The bonds are considered safe and are traded on the stock exchange. Which financial market is this?

A construction company needs funds to buy equipment and takes a bank loan with a repayment period of 10 years. The bank agrees to lend the money but asks for fixed collateral. Even though the company receives cash immediately, it must repay the loan with interest and does not sell ownership. Is this equity or debt financing?

An investor buys newly issued shares of a company during its IPO, then sells some of them to another investor the next day for a profit. Both actions happen within one week. Which financial market is involved in this situation?

A startup company takes out a 6‑month loan from a local bank to cover operating expenses while waiting for customer payments. Later, it also sells shares to investors to fund its long‑term expansion. These two financing activities happen in the same year. Which financing is used?