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Several dozen representatives of the Bulgarian business community: brokers, investment firms and potential issuers have attended an information seminar in Sofia hosted by the National Depository for Securities in collaboration with the Warsaw Stock Exchange, the law firm Prof. Marek Wierzbowski i Wspólnicy, and the Bulgarian partners UniCredit Bulbank and Tocheva & Mandazhieva Law Office.
KDPW experts and event partners introduced the Bulgarian community to the listing of Bulgarian companies on the Polish Exchange. One of the panels discussed the settlement of transactions in shares of companies in dual listing on both markets. The National Depository is responsible for clearing and settlement of transactions in shares of foreign companies and provides a range of other services to issuers and shareholders including dividend payment, assimilation, replacement, conversion and split of shares, and execution of allotment certificates.
Today, Poland is the leading capital market in Central and Eastern Europe in terms of turnover, capitalisation, and IPOs. To date, 27 companies have decided to go public in Warsaw. “Close co-operation between the National Depository for Securities, the Warsaw Stock Exchange and market participants is the key to strengthening the position of the Polish market in the region. KDPW is the only settlement and depository institution in the region which maintains several operational links with foreign depositories. As a result, we serve foreign issuers listed on the WSE from several countries including Austria, the Czech Republic, Hungary, and even the USA. We want to be a regional hub with effective international links to other depositories. It is one of the key projects of our Strategy for 2010-2013,” said KDPW CEO Iwona Sroka.
KDPW opened an operational link with the Bulgarian market in February 2010. As a result, Intercapital Property Development was the first Bulgarian company to make a debut on the Polish Exchange in July 2010. Another link has been opened later this year with the Canadian market in connection with the IPO of KOV. Work is in progress to establish links with the Lithuanian and Romanian markets.
