Printer Friendly

Macedonian stock exchange should be sold immediately: the sale is necessary in a time when the whole region is integrating whether directly or indirectly. "Selling the Macedonian stock exchange to a foreign stock market that is much bigger and has more experience, more advanced technology and better technical conditions for trade is good," Nakeva Kavrakova says.

The Macedonian Stock Exchange has to be sold as soon as possible in order to raise its trade in every respect, Marina Nakeva Kavrakova, President of the Securities and Exchange Commission, says.

"In this way, the value of the securities and their supply is going to rise, reducing market instability and turbulent oscillations. Also, the home investors' risk will be diversified and there will be a lot of other benefits and incentives provided that the Stock Exchange is sold to a foreign market," Nakeva Kavrakova says.

The sale is necessary in a time when the whole region is integrating whether directly or indirectly.

"Selling the Macedonian Stock Exchange to a foreign stock market that is much bigger and has more experience, more advanced technology and better technical conditions for trade is good," Kavrakova says.

The idea of selling the Macedonian Stock Exchange was raised over a year ago when consensus was reached among most stockholders that this institution should be sold. Three foreign stock markets provided letters of interest, but the talks were stalled considering that the law did not allow a stockholder to have more than 10 percent of the capital. The modifications have now been made and are awaiting Parliament's approval. However, the situation is now more complex compared to a year ago. The price has substantially dropped. Last year, in the words of some stockholders, the price at which they were ready to sell the stock market share was set at 5,000 euros, which was nine times the nominal value of the stock market share. The price at which a share is now offered for sale is 4,400 euros.
COPYRIGHT 2009 Macedonian Information Centre
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2009 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:STOCK EXCHANGE
Publication:Macedonian Business Monthly
Article Type:Brief article
Geographic Code:4EXMA
Date:Oct 1, 2009
Words:274
Previous Article:Firms should issue new shares.
Next Article:Macedonian citizens wish to buy shares of foreign firms: Macedonian citizens are interested in buying shares and bonds of foreign companies in view...
Topics:

Terms of use | Privacy policy | Copyright © 2022 Farlex, Inc. | Feedback | For webmasters |