.jpg)
On 12 October 2007, the Warsaw Stock Exchange became a shareholder of the monetary and derivatives exchange Bursa Monetar Financiara si de Marfuri in Sibiu (Romania) following the WSE’s participation in an increase of the Sibiu Exchange capital and the allotment of shares representing 1.8% of the Sibiu Exchange share capital to the WSE.
The event marks another step in the development of co-operation between the WSE and the capital markets in the CEE region.
Mr. Ludwik Sobolewski, President and CEO of WSE said: “The Warsaw Stock Exchange considers the Romanian capital market to be one of the major markets of Central and Eastern Europe, and plans to build mutual long-term relations to the advantage of both, the Polish and the Romanian, stock exchange markets.
Mr. Teodor Ancuta - Chairman of BMFMS said: "The fact that the Warsaw Exchange became a shareholder of the Sibiu Monetary Financial and Commodities Exchange represents a turning point for the Romanian capital market.
The Sibiu Exchange found an important partner and together we plan a series of long term projects to exploit the huge potential of the domestic capital market and projects that could offer the Romanian investors the possibility to trade on the Polish securities market.
We were looking for and we found a reliable partner that could help us to expand our activities, the main objective being to establish a spot market in Sibiu. We hope that together with the WSE we will succeed in building an important institution for the regional financial environment"
Transaction details
The WSE acquired 586 shares of a new issue of the Sibiu Exchange, at RON 1,600 (RON [Romanian leu] = ca. PLN 1.12) each. The transaction was worth RON 937,600, or ca. PLN 1 million.
