Business Services Industry
OMX AB signs letter of intent to acquire Armenian Stock Exchange
Nordic Business Report, April 27, 2007
NORDIC BUSINESS REPORT-27 April 2007-OMX AB signs letter of intent to acquire Armenian Stock Exchange(C)1994-2007 M2 COMMUNICATIONS LTD http://www.m2.com
Nordic stock exchange operator OMX AB said on Friday (27 April) that it has signed a letter of intent with the Central Bank of Armenia and the Government of Armenia for the 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," said Magnus Bocker, CEO of OMX.
"OMX's ambition is to use the Armenian case as a benchmark to enter other emerging capital markets," the CEO added.
OMX said that the size of the Armenian market is currently small by any standards, but the company sees the potential for growth.
OMX operates the Nordic Exchange, which offers access to approximately 80% of the Nordic and Baltic securities markets.
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