Turks become co-owners of Sarajevo Stock Exchange

Three Turkish finance institutions will enter the ownership structure of the Sarajevo Stock Exchange, that stock exchange announced.

The Istanbul Stock Exchange, Takasbank, which is the settlement agent for the Istanbul Stock Exchange, and the Central Registry of Turkey will acquire 5% of shares of the Sarajevo Stock Exchange each. These institutions sent the letter of intent last week, expressing an interest in the acquisition of shares of the stock exchange in Sarajevo. At a session on February 25, the Supervisory Board of the Sarajevo Stock Exchange backed the entrance of Turkish institutions to the ownership structure through issuance of new shares and ordered the Management to start the process of recapitalization.

Successful recapitalization would make it possible for the stock exchange to get additional capital for further development and it would also be able to count on other benefits in the form of a greater presence of foreign investors, transfer of knowledge, and a greater capacity of the stock exchange. According to unofficial information, Turkish investors will pay over KM 400,000 to enter the ownership structure, while shares will be sold at the market price instead of nominal one.