Macedonian Stock Exchange (MSE), upon request and on behalf of the shareholders of MSE, informs the public about the following:
· Analyzing the possibilities and directions for the development of the MSE and the means for establishing most optimal position in the region of SEE, the shareholders who hold majority shares of the capital representing controlling stake in the MSE have concluded that the further development of the MSE should be accomplished by setting up strategic partnership through the form of capital integration with a leading European or regional Stock exchange company. For this purpose, appropriate activities have been undertaken in the recent period, whereupon 16 shareholders that possess over 66% of the MSE share capital have concluded Shareholders Agreement, pursuant to which a controlling interest in the share capital of MSE shall be offered to a strategic buyer, through closed tender procedure. At the same time, MSE have engaged the services of financial and legal consultants for the purpose of competent and efficient execution of the whole process.
· Following the signing of the Shareholders Agreement, additional standard activities have been undertaken within the tender procedure. At the end of November, an invitation letter has been delivered to renowned European and regional Stock exchange companies, with request that they should express their interest no later than December 15th. Within that dateline, several stock exchanges have expressed their interest to participate in the tender procedure, whose financial parameters, advanced trading technologies and intensive activities aimed at creating integrated regional securities market are appropriate to achieve the long-term strategic goals of the MSE. The number of stock exchanges that will participate in the auction shall guarantee that the competition requirements in the biding process shall be met. Principal prerequisite for carrying out the procedure for purchase of majority shares of the MSE is to adopt appropriate amendments of the Macedonian Securities Law, which have been already initiated by the MSE.
· Considering MSE’s affirmed and acknowledged commitment to transparent business conduct, MSE shall continue to inform the public regarding the next stages of the auction procedure.