The Athens Stock Exchange (ATHEX) has received approval from the Securities Commission of Serbia to acquire 10.24% of the total number of the shares of the Belgrade Stock Exchange (BELEX).
– The Athens Stock Exchange (ATHEX) is joining forces with the Belgrade Stock Exchange (BELEX) in order to collectively strengthen their presence in South East Europe and benefit from new opportunities – the Belgrade Stock Exchange announced.
This cooperation, according to the press release, is based on two principles: the mutual conviction that their respective capital markets should assume a more influencing role in the sustainable economic development of the local economies and the common vision that only by joining forces regional markets can efficiently and effectively address the intensifying challenges and enhance the offering to issuers, both in the EU and internationally.
– In this context ATHEX has proceeded to all the required steps resulting in the Securities Commission of Republic of Serbia’s consent to the acquisition of a 10.24% stake in BELEX – it is said.
At the same time, it is added, BELEX has decided to enhance its trading facilities by migrating its trading activities as Market Operator to the ATHEX’s Trading Platform, enlarging the Common Trading Platform pool of liquidity and services.
– As a next step, BELEX and ATHEX will closely cooperate with the Serbian Government – Ministry of Finance towards the enhancement of the Serbian Capital Market through the introduction of new products and services that will support the flow of capital from investors from local and international investors to issuers listed in BELEX – the press release says.
Socrates Lazaridis, ATHEX CEO, said that ATHEX, both as a market operator and as a public company, had the necessary experience to support BELEX grow its capital market through this strategic alliance.
– With BELEX along with the Cyprus Stock Exchange and ATHEX on the Common Trading Platform we are taking another step towards our long-term goal for sustainable business by increasing the collective liquidity pool and enlarging our broader regional network – Lazaridis said.
According to Sinisa Krneta, BELEX CEO, this alliance is an organic extension of years long successful cooperation and ever-growing business ties between ATHEX and BELEX.
– In order to contribute to the sustainable development of the Serbian capital market we expect that this new strategic and technological partnership will help us enhance market infrastructure, overcome investment bottlenecks, boost capital formation and generate abundant investment opportunities – Krneta said.
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