Tuesday, June 28 2022 21:19
Alina Hovhannisyan

Majority interest in Armenia Securities Exchange was transferred to  Warsaw Stock Exchange

Majority interest in Armenia Securities Exchange was transferred to  Warsaw Stock Exchange

ArmInfo.Today, on June 28th , in Yerevan, the Governor of the Central Bank of Armenia Martin Galstyan and President of the Management Board of the Warsaw Stock  Exchange (GPW) Marek Dietl signed an agreement on the sale of a  majority interest in the Armenia Securities Exchange (AMX). The press  service of the Central Bank of Armenia reports.

"We consider this investment as a long-term partnership. Our aim  is to recreate with joint efforts the capital markets of Armenia and  thrive to extend our business further into the region. We also expect  to develop the capital markets infrastructure, creating opportunity  for businesses to raise sustainable and affordable capital while  enabling the investors and savers to manage their savings and  investments more professionally within a wider range of investment  products and opportunities," said Marek Dietl, President of the  Management Board of GPW.  

"We believe this to be an important milestone in the development of  Armenian capital markets. Having found such a partner in the Warsaw  Stock Exchange, realizing we have the same vision and similar  aspirations, we believe this deal to be a turning point in the  chronicles of capital markets in Armenia. Under the leadership of the  Warsaw Stock Exchange, with their experience and knowledge, AMX has  the full potential to expand and become the robust stock market ready  to take up the challenges of the 21st century and lead the region."  said Martin Galstyan, Governor of the Central Bank of Armenia.

The intention of the GPW to acquire the AMX was announced on  September 18, 2020, after which the necessary analysis were carried  out, a development plan for the next 5 years was purposed, and the  necessary corporate approvals were implemented.  Finally, this year  at the May 24 Meeting, the Board of the Central Bank of the Republic  of Armenia approved the transaction. 

Accordingly, the Warsaw Stock Exchange (GPW) will acquire 65.03%  of shares of the Armenia Securities Exchange (AMX) (967 shares in  total). The Central Bank of Armenia will maintain 25.02% of shares,  and the remaining 9.95% are the AMX's own shares. The value of the  transaction is about AMD 873 million, a part of which (about AMD 499  million) will be paid after signing the Share Purchase Agreement, and  the rest, after completion of processes established by the Share  Purchase Agreement. 

The Warsaw Stock Exchange Group (GPW Group) operates trading  platforms for shares, Treasury and corporate bonds, derivatives,  electricity and gas, and provides indices and benchmarks including  WIBOR and WIBID. The index agent FTSE Russell classifies the Polish  capital market as a Developed Market since 2018. The markets operated  by the GPW Group are the biggest in Central and Eastern Europe. For  more information, visit www.gpw.pl

At the end of May 2022, the market capitalisation of 376 domestic  companies listed on the Main Market was PLN 585.8 billion (EUR 128.0  billion), while the total market capitalisation of 421 domestic and  foreign companies listed on the Main Market was PLN 1,165.2 billion  (EUR 254.6 billion).

Armenia Securities Exchange (AMX) is the only securities  regulated market operator in Armenia. As an integrated exchange  offering, AMX provides a full suite of services including listing,  trading, clearing, information services and alternative market  solutions. Currently 28 companies are listed in the AMX.

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