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Warsaw Stock Exchange to acquire 65.03% of Armenian Stock Exchange shares – Public Radio of Armenia

The Board of Directors of the Central Bank of Armenia today agreed to the acquisition of the Armenia Stock Exchange by the Warsaw Stock Exchange.

According to the agreement, the Warsaw Stock Exchange (GPW) will acquire 65.03% of the shares of the Armenian Stock Exchange (AMX) (967 shares in total). The Central Bank of Armenia will retain 25.02% of the shares, and the remaining 9.95% belongs to AMX. shares. The value of the transaction will be approximately AMD 873 million, a portion of which (approximately AMD 499 million) will be paid upon signing of the share purchase agreement, and the remainder upon completion of processes established by the share purchase agreement.

The GPW announced its intention to acquire the AMX in September 2020, after which the necessary studies were carried out, a development plan for the next five years was drawn up and the necessary corporate approvals were obtained.

The Board of the Central Bank emphasizes the importance of WFB’s entry as an institutional investor in the Armenian financial market, which will give impetus to the development of the Armenian capital market and promote the integration of Armenian and Polish capital markets, opening new opportunities for Armenian companies and investors.

The GPW is the largest and most developed market in Central and Eastern Europe. The GPW organizes the trading of stocks, bonds, derivatives, fund shares and other instruments. The GPW is a public limited company whose shares have been listed since 2010 with a capitalization of approximately 320 million euros.

The development program prepared by the GPW includes a number of measures aimed at improving the capital market infrastructure, including the development of the trading system, the expansion of the stock exchange and central depository services, as well as the introduction of advanced technological solutions.

AMX is the sole operator of the regulated securities market in Armenia, which organizes the trading of securities and other financial instruments. AMX is the 100% shareholder of the Central Depository of Armenia. 90.05% of AMX shares are owned by the Central Bank of Armenia and the remaining 9.95% are AMX’s own shares.

Sources

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2/ https://en.armradio.am/2022/05/24/warsaw-stock-exchange-to-acquire-65-03-shares-of-armenian-stock-exchange/

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