WSE drops foreign acquisitions, focuses on turnover rise, power bourse
2011-05-18 18:11:44
The Warsaw Stock Exchange (WSE) does not intend to purchase foreign bourses anymore, and has no intention to increase its share (from current 2%) in Romanian bourse Sibex. The WSE's target is to outpace the Vienna Stock Exchange in respect of turnover volume still this year and building the main centre in Warsaw, the WSE's CEO Ludwik Sobolewski has said.
In October of last year, before the WSE's bourse debut, Sobolewski announced that the WSE could become a possible acquirer of neighbouring bourses after three years. The WSE said earlier that in Q1/2011, its share in CEE bourse's equity trade was 47% and 44% in terms of capitalization of stocks listed on the region's bourses (in line with Federation of European Securities Exchanges' data).
The WSE counts on finalising the acquisition of the Polish Power Exchange (TGE) this year , and if transaction is successful, the WSE could finance it through a bonds issue, Sobolewski also said.
The WSE's representatives earlier hinted that they could be inclined to finance this acquisition from external resources. The Warsaw bourse wants to allocate for the dividend PLN 134.73mn, i.e. 98.8% profit for 2010.
In March, the WSE announced that started talks about TGE acquisition. The scenario of taking over TGE by WSE was also hailed by the state treasury, which holds 22.34% in TGE.
In December, 2010, the WSE launched POEE, an internet platform of electrical power trade.