WSE to follow up on Sibiu with other CEE buys

Newsroom 06/11/2007 | 18:01

Does the Warsaw Stock Exchange intend to increase its percentage in the Sibiu Stock Exchange (BMFMS)? If so, when and by how much?
We do not rule out the possibility of greater engagement, provided it benefits the development of the Sibex (BMFMS) market and that we are able to establish good and productive relationships with Sibex management and stakeholders.
In other words, today we see no factors which would disqualify this approach.
Capital commitment is regarded by us as proof of our real engagement in future cooperation, which in this case is even more visible as we made a financial contribution to the capital of Sibex directly. At the same time our position is that the development of cooperating markets in the CEE region does not have to be in “strict proportion” to a capital commitment. Building a capital market cannot rely on capital engagement alone and we've seen at least one example where such an important capital link proved insufficient. We assess that there is great room for doing things together among several marketplaces in CEE, such as Prague, Bratislava, Kyiv, Bucharest, Sofia, Sibiu and Warsaw – all these market venues possessing that common feature: that they did not make major mistakes with regard to their relations with other operators.

What are your short-term plans for the growth and development of the BMFMS?
The financial side of this investment is a sign that we are decided to cooperate with Sibex and the Romanian market for the long term. The aim of this cooperation is to create a flow of capital involving intermediaries, issuers and investors from both markets.

Is WSE interested in other regional markets at this point?
The Warsaw Stock Exchange maintains its interest in acquiring shares of CEE exchanges, including the BSE (Sofia), Ljubljana Stock Exchange and Prague Stock Exchange. Consistent development of the WSE regional cooperation is well exemplified by becoming a shareholder of the Sibex exchange. The WSE wants to cooperate with exchanges from the CEE region, either as a strategic investor or relying on other models of cooperation. Developing multi-layered cooperation arrangements aligns with the WSE strategy of creating cross-border flows of capital in the Central and Eastern Europe region. This objective will be possible to pursue only through equal and respectful relations with industry partners.

Ana-Maria David

BR Magazine | Latest Issue

Download PDF: Business Review Magazine June II 2024 Issue

The June II 2024 issue of Business Review Magazine is now available in digital format, featuring the main cover story titled “Mihaela Bitu, ING Bank Romania: Banking makes dreams come true”. To
Newsroom | 28/06/2024 | 12:25
Advertisement Advertisement
Close ×

We use cookies for keeping our website reliable and secure, personalising content and ads, providing social media features and to analyse how our website is used.

Accept & continue