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Vienna Stock Exchange News

CEESEG to sell stake in Ljubljana Stock Exchange to Zagreb Stock Exchange

  • Transaction expected to be completed by the end of the year
  • Vienna Stock Exchange and Zagreb Stock Exchange to share trading technology
  • Collaboration in IT services will bring synergies for all parties

(Vienna/Zagreb) Today, the Zagreb Stock Exchange (ZSE) has signed an agreement to take over 100% of the Ljubljana Stock Exchange (LJSE) shares from the CEE Stock Exchange Group (CEESEG), following exclusive negotiations since late June 2015. Upon approval by regulatory authorities of both countries and following a capital increase by the Zagreb Stock Exchange, the transaction is expected to be completed in the last quarter of this year. Both parties agreed on not disclosing the price of the transaction.

In addition to the share purchase agreement, the Vienna Stock Exchange (VSE) and the Zagreb Stock Exchange also signed a letter of intent, forming a partnership focused on sharing their trading technology. Subject to the successful completion of terms, VSE will provide ZSE with their trading system, interfaces, software and expertise.

Commenting on the decision, Michael Buhl and Petr Koblic, members of the management board of CEESEG, said: "We have an excellent track record and cooperation network in Central, Eastern and Southeastern Europe and we are very pleased to expand it further. Shared technology and uniform standards will benefit both regional and large international clients. Expanding our existing data vending cooperation with the Zagreb Stock Exchange will further strengthen our position as infrastructure provider in CEE & SEE. We both have a deep understanding and appreciation of the region and share a common vision for its development. We are looking forward to reaping synergies through shared technology and know-how, thus strengthening the local capital markets. Also, the Ljubljana Stock Exchange will continue to benefit from the services and synergies we have provided over the past years." 

Commenting on the decision, Ivana Gažić, President of the Management Board of the Zagreb Stock Exchange, said: "The Zagreb and the Ljubljana Stock Exchange share a similar development path and financial system framework, with Slovenia's capital market being very similar to that of Croatia in terms of its development, structure and potential. Investors in these two markets often consider them as one, and Croatian investors hold considerable participations in Slovenian companies. We expect the Ljubljana Stock Exchange takeover by the Zagreb Stock Exchange to yield positive effects for both exchanges and capital markets, while also resulting in numerous synergies. We believe that the new consolidation context will be reflected positively in turnovers of both exchanges, in turn increasing their negotiating power with regard to the services they use and provide."

For further information, please contact:
Julia Resch, Wiener Börse AG
Tel: +43 (0) 1 53 165 - 186
Fax: +43 (0) 1 53 165 - 140

Sanda Kuhtic Nalis, Zagreb Stock Exchange Inc.
Tel: +385 1 4686 804
Fax: +385 1 4677 680

About the CEE Stock Exchange Group

The CEE Stock Exchange Group (CEESEG), which comprises of the stock exchanges of Budapest, Ljubljana, Prague and Vienna, is the largest stock exchange group in the region. Apart from four securities exchanges, CEESEG operates three commodity exchanges and is co-owner of five clearing systems (CCPs) and two CSDs. CEESEG simplifies access to markets and trading with the aim to increase liquidity on the local exchanges. The CEESEG stock exchanges cooperate with 12 stock exchanges in Central and Eastern Europe and are recognized throughout the world for this unique expertise.

About The Ljubljana Stock Exchange

Per 30 June 2015, the Ljubljana Stock Exchange has a market capitalization of EUR 5.9 bn. The average monthly equity turnover amounts to EUR 60 mn. The five most traded stocks in the leading index SBITOP are pharmaceutical producer KRKA, Telekom Slovenije, oil & gas company Petrol and home appliance manufacturer Gorenje. LJSE has been an equal subsidiary of the Vienna-based CEESEG since January 2010 along with Budapest, Prague and Vienna. In December 2010 a new trading system was introduced at LJSE, international trading participants became member of the exchange and it became integrated into the international capital market.

About The Zagreb Stock Exchange

The Zagreb Stock Exchange represents a central Croatian equities marketplace. It lists almost 300 financial instruments (stocks, bonds, commercial papers, structured products) and is comprised of two markets: Regulated Market and Multilateral Trading Facility. For almost 25 years Zagreb Stock Exchange leads the development of the capital market in the region while providing transparent, secure, cost-effective and efficient marketplace as well as obtaining the highest quality of capital market services in order to meet the needs of investors, issuers and all stakeholders.