.jpg)
"The NEWEX trading and financing platform will close a gap in demand: The considerable need for financing for start-ups and restructuring by companies in Central and Eastern Europe can only be covered through access to international capital. That is what NEWEX offers," as NEWEX Management Board members Dr. Michael Radtke and Dr. Erich Obersteiner explained in Vienna. For the market participants, NEWEX will be creating simple, low-cost access to the most attractive companies from Europe's growth region, they said.
NEWEX indicated that trading is to begin with about 10 listed companies in the two quality segments. In addition, more than 100 further companies are to be quoted in other segments. They will especially come from Poland, the Czech Republic, Hungary and Russia. As things now stand, 20 banks and securities trading firms from Germany, Austria and the UK will trade on NEWEX when the market is launched; together they make up the bulk of the current trading volume in Central and East European securities.
About 15 so-called Key Partners have a binding agreement with NEWEX to provide comprehensive consultancy services to potential issuers within the scope of a public offering. NEWEX partner companies are independent providers of services in the field of public offerings who have a strong relationship with Central and Eastern Europe: IPO and management consultants, credit institutions, securities trading firms, IR and PR agencies as well as lawyers, auditors and tax consultants.
The core components of the application for the operating license that is now before the Austrian Federal Ministry of Finance are the business plan, the General Business Conditions, the description of the trading and settlement system as well as the business case of the future NEWEX exchange-operating company. The exchange will be set up under Austrian law.
