The WSE will buy a foreign stock exchange. There is consent from the authorities

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The management board and supervisory board of the WSE approved the acquisition of 65.03% of shares. shares in Armenia Securities Exchange (AMX) – WSE announced in a press release. The total price of AMX shares purchased by the WSE will be AMD 826,297,550.00 and will be payable in two tranches.

As reported, as a result of the transaction, AMX will have 148 own shares, representing 9.95 percent. share in the company’s share capital, CBoA 372 shares, constituting 25.02% share in the capital, and the WSE 967 shares, accounting for 65.03%. share in the share capital.

As a result of the transaction, the WSE will indirectly take control of the Central Depository of Armenia (CDA) – the central securities depository in Armenia – in which AMX currently holds 100% of shares. share in the share capital.

The first tranche of payment for the shares in the amount of 498,765,150.00 AMD (dram) will be payable after signing the Share Purchase Agreement, obtaining the consent of the Central Bank of Armenia for the purchase of shares and the fulfillment of other formal conditions required under this agreement.

The second tranche of AMD 327,532,400.00 (dram) will be payable subject to the completion of all the procedures to which AMX is a party and specified in the Share Purchase Agreement.

In mid-September 2020, the Management Board of the Warsaw Stock Exchange signed a term sheet agreement with the Central Bank of Armenia (CBoA) on negotiating the terms of the purchase of a majority stake of 65 percent. shares in the share capital of Armenia Securities Exchange. (PAP Biznes)

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