Post by radovic on Nov 21, 2007 13:51:50 GMT -5
Slovenia: Ljubljana Stock Exchange to sell strategic stake
EMonline
The buyer will be chosen until mid-2008 at the latest
The owners of a 51% stake in Ljubljanska borza have signed an agreement envisaging a joint sale of their shares in the company operating the Ljubljana Stock Exchange (LJSE).
Arkas, the company coordinating the sale, said in a press release that the other owners can join the deal until 3 December.
Arkas said that 17 owners of Ljubljanska borza have signed the agreement so far and added that the sale was still in its initial phase, as no serious selection of potential buyers has been made.
"The sale will be competitive, participation being open to all potential buyers which meet the conditions agreed on by the signatories of the agreement," Arkas director Uros Marter said. He expects the buyer will be chosen until mid-2008 at the latest.
Arkas said that the agreement stipulates that the buyer needs to keep the seat of Ljubljanska borza in Slovenia and that he has to take on the commitment of actively cooperating in the development of the Slovenian capital market.
Arkas further explained that most of the signatories of the agreement are members actively trading on the exchange, which means they are well aware of the importance of finding a strategic majority owner. The owner will have a key influence in the future development of the stock exchange as well as of the whole capital market in Slovenia.
The signatories said that this is the right time to find a strategic owner, who will bolster development of financial instruments, increase liquidity and expand the exchange to new companies, including foreign ones.
They added in their press release that the world's stock exchanges had been posting record profits. Europe is in turn seeing a wave of consolidation of local stock exchanges, which is creating opportunities to find the best buyer among a great number of bidders.
Ljubljanska borza has been approached by several European stock exchanges in 2007, including OMX, Warsaw Stock Exchange and Wiener Boerse, but talks did not yield an agreement. (Slovene Press Agency )
EMonline
The buyer will be chosen until mid-2008 at the latest
The owners of a 51% stake in Ljubljanska borza have signed an agreement envisaging a joint sale of their shares in the company operating the Ljubljana Stock Exchange (LJSE).
Arkas, the company coordinating the sale, said in a press release that the other owners can join the deal until 3 December.
Arkas said that 17 owners of Ljubljanska borza have signed the agreement so far and added that the sale was still in its initial phase, as no serious selection of potential buyers has been made.
"The sale will be competitive, participation being open to all potential buyers which meet the conditions agreed on by the signatories of the agreement," Arkas director Uros Marter said. He expects the buyer will be chosen until mid-2008 at the latest.
Arkas said that the agreement stipulates that the buyer needs to keep the seat of Ljubljanska borza in Slovenia and that he has to take on the commitment of actively cooperating in the development of the Slovenian capital market.
Arkas further explained that most of the signatories of the agreement are members actively trading on the exchange, which means they are well aware of the importance of finding a strategic majority owner. The owner will have a key influence in the future development of the stock exchange as well as of the whole capital market in Slovenia.
The signatories said that this is the right time to find a strategic owner, who will bolster development of financial instruments, increase liquidity and expand the exchange to new companies, including foreign ones.
They added in their press release that the world's stock exchanges had been posting record profits. Europe is in turn seeing a wave of consolidation of local stock exchanges, which is creating opportunities to find the best buyer among a great number of bidders.
Ljubljanska borza has been approached by several European stock exchanges in 2007, including OMX, Warsaw Stock Exchange and Wiener Boerse, but talks did not yield an agreement. (Slovene Press Agency )