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Stock exchange news:

Warsaw Stock Exchange becomes a shareholder of the Ukrainian INNEX exchange

The acquisition of a stake in Ukrainian exchange INNEX by the WSE was the main topic of the meeting. The transaction which resulted in acquiring 25% of shares from existing shareholders was concluded on 10 July 2008 (transaction settlement date). After opening the WSE Representative Office in Kyiv on 25 June 2008, the transaction is yet another step in developing the cooperation between the Warsaw bourse and the Ukrainian market.

This event is part of our strategy to build the most favourable relations possible with markets in the region, among which the Ukrainian market is of key importance – WSE President Ludwik Sobolewski said – We aim to modernise and develop their infrastructure as well as contribute to establishing regulations facilitating capital flows between Ukraine and Poland. We also aim to present the Polish market and our stock exchange to Ukrainian companies as well as to promote Warsaw as a financing venue for Ukrainian firms. We do not treat the acquisition of INNEX’s shares as a purely financial investment. We have created a capital accord which is the foundation for assisting in building a modern stock exchange in Ukraine. Our presence in the INNEX exchange is to yield the best possible cooperation and partnership with INNEX shareholders as well as its management aimed at developing their market.

President Sobolewski reminded that the Ukrainian market is appealing to both the biggest European stock exchanges and Russian ones – This is another reason why we believe becoming an INNEX shareholder is a major success – the WSE President said.

Source: www.gpw.pl