YEREVAN, June 12. /ARKA/. The Armenian Securities Exchange (AMX) is not expected to undergo any serious changes after the deal with the Warsaw Stock Exchange (WFB), AMX CEO Hayk Yeganyan told ARKA News Agency.
“There will be development and attempts to attract individuals to the market,” he explained. Yeganyan stressed that two years ago AMX jointly with representatives of WFB and the European Bank for Reconstruction and Development started working out a strategy for capital market development with the securities exchange, the Central Bank, brokers, shareholders and international financial structures playing a role.
“The Board of Directors has been formed and very highly qualified specialists have been brought in like ex-director of the Stuttgart Stock Exchange,” he said.
The Armenian Stock Exchange is the only regulating operator of the securities market in Armenia. AMX offers listing, trading, clearing and information services, as well as alternative exchange solutions.
The exchange settlements are performed by the Central Depository of Armenia, which is 100% owned by AMX.
On May 24, 2022, the Board of the Central Bank of Armenia approved the purchase of AMX by the Warsaw Stock Exchange (WFB). On June 28 of the same year, Armenian Central Bank Chairman Martin Galstyan and WFB Board Chairman Marek Dietl signed an agreement on sale of controlling stake in AMX.
WFB acquired 65.03% of AMX (967 shares), the Central Bank of Armenia holds 25.02% and the remaining 9.95% are AMX’s own shares. The cost of the deal is about AMD 873 million (about $2.2 million). -0-
