Central Bank and WSE Sign Agreement for Sale of Armenian Stock Exchange

Today, on June 28, the President of the Central Bank of Armenia, Martin Galstyan, and the Chairman of the Managing Board of the Warsaw Stock Exchange (WSE), Marek Dietl, signed an agreement regarding the sale of the controlling stake in the Armenian Stock Exchange (ASE).

“We view this investment as a long-term and strategic partnership. Our goal is to jointly develop Armenia's capital market and our business in the region. We also expect to enhance the capital market infrastructure, which will allow businesses to attract stable and affordable capital, while enabling the public to manage their savings and investments more professionally,” stated Marek Dietl, Chairman of the Managing Board of the WSE.

“We believe this marks an important phase in the development of Armenia's capital market. By finding a partner like the Warsaw Stock Exchange and recognizing that we share the same vision, we think this agreement could be a turning point in the history of Armenia's capital market. By utilizing the experience and knowledge of the Warsaw Stock Exchange, the ASE has the full potential to expand and become a robust stock market capable of facing the challenges of the 21st century,” said Martin Galstyan, President of the Central Bank of Armenia.

It is noteworthy that the intention of the WSE to acquire the ASE was announced back on September 18, 2020, after which the necessary studies were conducted, a development plan for the next five years was formulated, and the needed corporate approvals were obtained.