BH Telecom is a leading telecommunication company in Bosnia and Herzegovina. It was established during the collapse of Yugoslavia in 1992 and was the first company in Bosnia and Herzegovina to provide GSM, 3G, IPTV and many other services. It was a government-owned corporation whose sole proprietor was Federation of Bosnia and Herzegovina, but since 2004 it is listed as a public company with most stock still owned by the government. Although stock owners have both governance as well as ownership rights, the effect of such controlled distribution of capital is that company is effectively still directed and managed by the government, but funds and small shareholders are enabled to earn money on dividends and stock trading.