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Tuesday 22.05.2018 | Name days: Emīlija
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Riga exchange hopes for new securities issuers this year

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUThere are hopes to see new Latvian businesses release shares on the stock market this year, says chairperson of Nasdaq Riga Daiga Auziņa-Melalksne.

«Definitely. Companies come to the exchange to attract capital to finance development. And so I think the exchange can expect applications from companies whose initial public offers or investment plans were postponed, companies that missed an appropriate market situations or attractive prices for the assets they wanted to purchase. There are also many companies that were inspired by the example set up by Madara and wish to attract funding for future development. With that, the general mood is positive,» says Auziņa-Melalksne.

She also said that the example set by Madara Cosmetics demonstrated that a small or medium segment company can demonstrate a very confident start at the exchange.

At the same time, Auziņa-Melalksne allowed that unlike Madara Cosmetics, which released shares on First North alternative market, new companies may try to include shares on the official list. «There is a greater degree of interests from investors for companies whose shares are on the official list. This especially applies to institutional investors. The official list also ensures a greater degree of recognition. I believe newcomers will aim for the official list,» said the head of the exchange.

The exchange still hopes for a state-owned company to enter the stock market. «If we look at 30 of Latvia’s largest companies, we will see that one-third of them are owned by the state. To assist with development of Latvia’s capital market, presence of state companies is essential. We maintain constant dialogue with the government on this matter. We have noticed that this matter has finally grabbed the attention of the prime minister, economy minister and finance minister. It is expected that the Cross-Sectoral Coordination Centre will soon prepare a report for the government. In it, the centre will suggest possible steps to progress in this direction. I think this matter has been heard, finally.»

She says that every state-owned company can enter the exchange and release shares. It would help them attract additional capital to accommodate growth, which is vital for continued development of Latvia’s economy. «Quotation of shares would allow any Latvian private person to benefit from growth of state-owned companies,» says Auziņa-Melalksne.

Nasdaq Riga manager predicts there will be new securities issuers in 2018.

At the same time, she mentioned that Latvian Shipping Company may leave the exchange this year. It is entirely possible that another company could leave as well. «From a business viewpoint, this is not good news. What is important, however, is for new businesses to replace them. We see that new companies keep coming. We expect new ones to pop up in the future as well,» said Nasdaq Riga chairperson.

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