OMX, the leading expert in the exchange industry, and the Central Bank of
Armenia and the Government of Armenia have signed a letter of intent
regarding acquisition of the Armenian Stock Exchange and the Central Depository
of Armenia.
“We believe that acquiring the Armenian Stock Exchange and Central Depository
is an opportunity for OMX to leverage our experience from developing emerging
markets in other countries. OMX will strengthen the Armenian securities market
with the goal to enhance its efficiency, liquidity and visibility. Furthermore,
OMX's ambition is to use the Armenian case as a benchmark to enter other
emerging capital markets,” says Magnus Böcker, CEO of OMX.
“We are delighted that OMX has decided to participate in developing the
Armenian capital market. The Armenian government and the Central Bank of
Armenia are truly committed to this task and we will do all we can to help OMX
achieve the mutually set goals,” says Serge Sargsyan, Prime Minister of the
Republic of Armenia.
“The Central Bank of Armenia has been working together with OMX for over a year
and we believe that this acquisition is an important step towards achieving our
long-term goals for the Armenian capital market. We welcome OMX's increased
involvement and a continued positive cooperation.” continues Tigran Sargsyan,
Governor of the Central Bank of Armenia.
OMX's knowledge of developing the Nordic and Baltic markets and providing
technology to more than 60 exchanges in over 50 countries provides OMX with a
strong platform from which to develop the Armenian securities market.
The size of the Armenian market is currently small by any standards, but OMX
sees the potential for growth due to a number of contributing factors, such as
the upcoming pension reform, changes to the legal framework and an increased
focus on the equity market as a source of capital for companies in the region.
The final agreement depends on fulfillment of certain conditions and is subject
to final approval from relevant Armenian authorities and the Central Bank of
Armenia.
For more information, please contact:
Niclas Lilja, Press Relations, OMX +46 8 405 63 95
About OMX | OMX is a leading expert in the exchange industry. Through the
Nordic Exchange, OMX offers access to approximately 80 percent of the Nordic
and Baltic securities market. The Nordic Exchange is a term used for marketing
purposes and is not a legal entity. It describes the common offering from the
Helsinki Stock Exchange, Copenhagen Stock Exchange, Stockholm Stock Exchange,
Iceland Stock Exchange, Tallinn Stock Exchange, Riga Stock Exchange and Vilnius
Stock Exchange. OMX' integrated technology solutions cross the transaction
chain enabling efficient securities transactions for over 60 exchange
organizations in more than 50 countries. OMX is a Nordic Large Cap company in
the Financials sector on the OMX Nordic Exchange. For more information, please
visit www.omxgroup.com
