Bulgaria State Plans to Sell Stock Exchange Shares
Finance | November 26, 2009, Thursday
Bulgaria’s Finance Minister, Simeon Djankov, wants to create a regional stock exchange with the help of the new owner of the Finance Ministry’s shares in the Bulgarian Exchange. Photo by BGNES
Bulgaria’s Finance Minister, Simeon Djankov, announced that he is resuming abandoned plans to sell the State share of the Bulgarian Stock Exchange.
The Ministry wants to finalize the sale in the next months, Djankov said Thursday, adding he is looking for an important investor to develop the Stock exchange on a regional level.
The Minister further explained the most likely, interested, and promising investors are the German and Austrian Stock Exchanges, adding the crucial factor would be the sale’s price because the buyer who offers more usually has better market strategies.
Bulgaria’s Finance Ministry is the largest Stock Exchange shareholder with 44% of the shares. The rest belongs to banks and investment brokers.
Djankov’s idea is to connect the Bulgarian Stock Exchange to other smaller exchanges in the region such as the Macedonian one and create a regional stock exchange with the help of the new owner of the Finance Ministry’s shares.
Tags: Simeon Djankov, Bulgarian Stock Exchange
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