Hints and tips:
...The WSE had held a 20 per cent stake. Rich Ricci, the former Barclays investment banker and long-time backer, has become the top shareholder in Aquis, with a 7.9 per cent stake....
...The WSE had initially bought a 30 per cent stake for £5m in 2013. That deal had valued Aquis at around £17m. The holding was diluted in subsequent fundraisings....
...If WSE chooses not to participate in the listing, Aquis has the right to exercise a call option and sell the shares to another investor. The option will expire in November next year....
...The WSE ranks as the region’s largest exchange, with 445 listed companies, including 48 foreign ones – 45 on the main market and three on the parallel market....
...Adam Maciejewski, WSE chief executive, laid out on Thursday how it plans to build the WSE’s position in European stock, derivatives and commodity markets over the next six years....
...Energa launched on the WSE in a privatisation worth 2.4bn zlotys ($787m), the bourse’s largest IPO in two years....
...Peixin becomes the 15th IPO on the WSE’s main market so far this year and is the 46th foreign company on the exchange....
...The IPO saw 50 per cent minus one share offered on the WSE, raising 1.4bn zlotys, which PKP plans to use to pay down part of its 4bn zlotys in debt....
...News of the talks between Aquis and the WSE was first reported by Bloomberg....
...The value of IPOs on the WSE still cannot come even close to those of London and the visibility benefits of being listed in London – and consequently attracting new investors with an interest in this region...
...The WSE’s broad WIG index was down by 4.16 per cent – that follows a 2.14 per cent retreat on Wednesday....
...In 2006 the WSE overtook its rival in Vienna to become the largest bourse in central and eastern Europe. WIG30 will be first published on September 23....
...over the government’s changes to the pension system, which could lessen liquidity and lower prices on the WSE....
...The Bucharest Exchange has 80 listed companies, while the WSE has 443 on its main market. So far this year the WSE has had 11 IPOs while Bucharest had none....
...The WSE’s new head, Adam Maciejewski, promised to take a closer look at New Connect when he took over the bourse in January....
...that the WSE was not even admitted to the bidding before Prague was sold to Vienna....
...He has been joined by Pawel Czupryna, senior WSE adviser and Sean Melnick, an entrepreneur and founder of Peregrine Holdings, a South African asset management group....
...could also have a negative impact on the Warsaw Stock Exchange, where the funds have been crucial buyers of shares and have been responsible for the so-called “pension premium” of higher valuations on the WSE...
...Tuesday also marked the 22nd anniversary of the WSE’s first day of trading....
...The offering, expected to be completed during the fourth quarter, will be the WSE’s largest IPO this year, and marks one of the biggest government asset sales in recent years....
...Related reading: Russia: Luxoft looks to IPO despite market turmoil, beyondbrics Poland: BZ WBK bank gears up for record share issue on WSE, beyondbrics Russia state sell-offs must offer control, FT...
...The WSE now lists stocks with a market capitalisation of €168bn – a significantly higher figure than Vienna’s €80bn, and more than all four of the CEESEG bourses combined....
...Leszek Pawlowicz, chairman of the WSE’s supervisory board, told the Polish press that any merger of the exchanges would have to generate value for the shareholders of the WSE and for the country as a whole...
...The treasury holds 35 per cent of the WSE’s shares, but controls 51.7 per cent of votes....
...Adam Maciejewski, the WSE’s new CEO, has pledged to clean up New Connect and make it more transparent for both domestic and foreign investors, as well as an attractive place for small companies to raise...
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