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Bid to boost business listing

Tuesday, December 05, 2017

The Warsaw Stock Exchange GPW.WA will try to persuade dozens of retiring business owners to sell their companies via the Bourse as it strives to attract new listings, its chief executive said.

The state-controlled Bourse has seen a decline in new listings in recent years, in part because low interest rates have allowed companies to raise money cheaply without the regulatory obligations that come with a stock market listing.

"We identified around 50 private companies, which in our view should be listed on the WSE," Marek Dietl told Reuters in an interview approved for publication on Sunday.

Mr Dietl, approved as CEO at the end of September, said the Bourse would argue a listing — as opposed to a sale to another private investor — would allow retiring business owners to sell down their stakes gradually and would guarantee a market price.

"We would like to convince at least some of these companies' owners to list them on the WSE," said Mr Dietl, the WSE's fifth CEO since 2013 and the third since the nationalist Law and Justice party (PiS) won elections in 2015.

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