Warsaw Stock Exchange eyes majority stake in Armenian bourse

The Warsaw Stock Exchange is seeking to buy a majority stake in the Armenia Securities Exchange, a Polish government official has announced.

Artur Soboń, Polish deputy minister for state assets, briefs reporters on the impending acquisition and his country's role as a "promoter of emerging markets" on Friday, Sept. 18, 2020.

Photo: PAP/Rafał Guz

The Polish stock exchange wants to acquire 65 percent ownership of the Armenian bourse, Deputy State Assets Minister Artur Soboń said, as cited by Polish Radio’s IAR news agency.

🌐 Zarząd @GPW_WSExchange podpisał porozumienie z Centralnym Bankiem Armenii w sprawie negocjacji zakupu pakietu większościowego stanowiącego 65% udziałów w Armeńskiej Giełdzie Papierów Wartościowych(AMX)📈 pic.twitter.com/K28BuJSc4q

— Ministerstwo Aktywów Państwowych (@MAPGOVPL) September 18, 2020

The deal is expected to bolster Poland’s position as the leading financial market in Central and Eastern Europe and highlight its role as a "promoter of emerging markets," Soboń told reporters at the end of last week.

The impending acquisition comes after the Central Bank of Armenia selected the Warsaw Stock Exchange as a strategic investor for that country’s bourse.

Negotiations on the deal began a year ago and are expected to be finalized soon, the Polish public broadcaster’s news agency reported.

(gs)

Source: IAR