Bourses Montenegroberza, NEX Montenegro merge.

By bne IntelliNews October 6, 2010
The unification of the two capital markets in the country was finalised, Montenegroberza informed. according to the statement, the securities commission (KHoV) issued a decision on the registration of the new share issue of the bourse, by which the shareholders of the other stock exchange in the country, NEX Montenegro, will convert their shares into ones of Montenegroberza, which is the legal successor to the two bourses. As recalled, the merger was approved by the shareholders of the two stock exchanges earlier in the year, while the deal was greenlighted in advance by KHoV. The deal, which has been considered for a long time, became possible after the domestic financial group Atlas acquired last year majority stakes in both bourses. The establishment of a single capital market in the country will decrease the operational costs of the market participants.

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