Montenegroberza hikes share capital by 22.4%.

By bne IntelliNews April 28, 2010
One of the two stock exchanges operating in the country, Montenegroberza, increased its share capital by 22.4% to EUR 0.76mn, the bourse said. The deal was performed through an increase of the face value of the stock exchange's shares to EUR 600 from EUR 490. Thus, the ownership structure was preserved. Domestic financial group Atlas holds more than 50% in the bourse. We note that the two stock exchanges in the country are to merge, expectedly by the end of H1. The shareholders of both Montenegroberza and NEX Montenegro approved the deal. The establishment of a single capital market in the country will decrease the operational costs of market participants.

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