The WSE bought 25 percent shares of Ukrainian Innex, one stock exchanges in Ukraine. It was founded in 1995 and is owned by legal entities, including 80 brokerages and several subsidiaries of Donbas. Innex controls several percent of the Ukrainian capital market. PFTS is the biggest player with over 90 percent market share. Innex has several hundreds million zloty of annual sales. The WSE will provide necessary technology for its partner. The value of the transaction has not been revealed.
The market evaluates the news well.
“This is a step in the right direction. The integration of both markets will thus go much faster”, Michal Chyczewski, the deputy minister of the treasury said.
It may be easier to lure Ukrainian companies to be listed on the WSE.
“This acquisition is a continuation of the strategy of building WSE’s presence in Ukraine and luring new companies from this country to Poland. If so, the WSE has done the proper thing”, Piotr Kuczynski, Xelion Doradcy Finansowi chief analyst commented.
Ludwik Sobolewski, the WSE CEO, believes that two financial companies from Ukraine will be listed in Warsaw this year.
This is not the last acquisition by the WSE which earlier had acquired a stake of Romanian Sibex.
“We are interested in stock exchanges in our region, we are working over further acquisitions”, Ludwik Sobolewski admitted.
In upcoming months, the WSE faces privatization. The issue prospectus should
be submitted at the end of September at the latest, according to Michal
Chyczewski.