The Central Bank of Armenia and the Warsaw Stock Exchange signed the agreement on the sale of a majority interest in AMX

On June 28 in Yerevan, the Governor of the Central Bank of Armenia Martin Galstyan and the President of the Management Board of the Warsaw Stock Exchange Group (GPW Group) Marek Dietl signed an agreement on the sale of a majority interest in the Armenia Securities Exchange (AMX).

The intention of the GPW to acquire the AMX was announced on September 18, 2020, after which the necessary analyses were carried out, a development plan for the next 5 years was purposed, and the necessary corporate approvals were implemented. Finally, this year at the May 24 Meeting, the Board of the Central Bank of Armenia approved the transaction. Accordingly, the GPW will acquire 65.03% of shares of the Armenia Securities Exchange (967 shares in total). The Central Bank of Armenia will maintain 25.02% of shares, with the 9.95% remaining as the AMX-owned shares. The value of the transaction is about AMD 873 million, a part of which (about AMD 499 million) will be paid after signing the Share Purchase Agreement, and the rest, after completion of processes established by the Share Purchase Agreement.

TGPW Group operates trading platforms for shares, Treasury and corporate bonds, derivatives, electric- ity and gas, and provides indices and benchmarks including WIBOR and WIBID. The markets operat- ed by the GPW Group are the biggest in Central and Eastern Europe.

 

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