You have 3 free articles left this month. Get your free Basic subscription now and gain instant access to more.

Zagreb bourse boosts stake in Skopje counterpart to 29.98%

Author Annie Tsoneva
Zagreb bourse boosts stake in Skopje counterpart to 29.98% Author: Zagreb bourse. License: All rights reserved.

ZAGREB (Croatia), August 18 (SeeNews) - The Zagreb Stock Exchange (ZSE) [ZSE:ZB] said on Thursday it holds 837 shares representing a 29.98% stake in its counterpart in North Macedonia, the Macedonian Stock Exchange (MSE), after it acquired a further 146 ordinary shares, representing 5.23% of its equity capital.

On August 17 it completed the purchase of eight shares of the Macedonian Stock Exchange, and on August 18 it completed the purchase of 138 shares of the company, the Zagreb bourse said in a statement.

You can subscribe to our M&A newsletter here

The transactions are fully funded by the exchange's own resources, it added.

It did not name the seller and the value of the deal.

Before the transactions, the Zagreb bourse held 691 shares, or 24.75% of the capital of MSE.

In June, North Macedonia's Securities and Exchange Commission (SEC) said it approved a request by the ZSE to increase its stake in MSE to up to 30%.

The Zagreb bourse acquired the Slovenia's Ljubljana Stock Exchange in 2015.

The ZSE's shares shares last traded on the Zagreb bourse on Tuesday, ending flat at 17 kuna ($2.30/2.26 euro).

(1 euro = 7.516 Croatian kuna)