According to unofficial information from the Finance website, the purchasing bid for the Ljubljana Stock Exchange stands between 1 and 1,5 million euros. The Vienna Stock Exchange, which later became the CEESEG Group, paid 47 million euros when it acquired its Ljubljana counterpart.

The Ljubljana Stock Exchange (LJSE) informs that the Zagreb Stock Exchange went ahead with the purchase after receiving consent from the supervisory bodies of both countries and after increasing its own capital. The finalising of the transaction is scheduled for the final quarter of the year. The purchasing amount is not yet known.

"With this transaction we're moving away from a group headed by Austria and connecting with a stock exchange in Southeast Europe. The buyers and sellers obviously assume, that we will have more synergy in connecting with this part of Europe," said Marko Pavlović from the GBD brokerage company. He added: "In the long-term it's clear that Zagreb is becoming an important financial center of Southeast Europe."

Synergy and positive effects
The Zagreb and Ljubljana stock exchanges have shared a similar development path and a wider financial market. Slovenia's capital market, regarding its past development, structure and potential, is very similar to Croatia's, emphasized Ivana Gažić, the chairman of the Zagreb Stock Exchange.

"Both investor markets are often treated as one, and Croatian investors have invested quite a lot in Slovenian companies. We expect the Zagreb takeover of the Ljubljana Stock Exchange to bring a lot of synergy and positive effect for both stock exchanges and both markets," added Gažić.

According to the latest information the biggest single owner of the Zagreb Stock Exchange is the Investco company with a 9,9 percent share. Interkapital is next in line and owns an 8,6 percent share, while third is the Hrvatska Poštanska bank, which together with its subsidiaries, has a total of around 20 percent of the shares of the Zagreb Stock Exchange.

The Zagreb Stock Exchange represents the center of Croatia's capital market and has almost 300 listed financial instruments. It is composed out of two markets, a regular market and an MTF.

G. K.; translated by K. J.