News
March 2009 on WSE
New Listings
GPM Vindexus was listed on 23 March. The core business of Vindexus is to trade in debt and provide debt enforcement services. The company buys, enforces, and sells debt including outstanding loans, invoices, interest, and bank composition schemes.
Other Events
On 11 March, the Polish Financial Supervision Authority approved the acquisition by the Warsaw Stock Exchange of 61.31 percent of shares of MTS CeTO and the exercise of voting rights from the block of shares. After the approval, the WSE which previously held a package of around 30 percent of shares may exercise voting rights from shares representing 92.47 percent of the share capital of MTS CeTO.
The transaction is a part of the WSE’s efforts aimed at concentration of liquidity of equity trading and enlarging the range of instruments traded in the WSE structure especially with new debt instruments.
The consolidation will help to build synergic relations with various groups of participants in the financial market, reinforcing the equity segment of the market. The WSE and MTS CeTO will now engage in harmonised co-operation with different groups of market participants. The WSE considers the consolidation with the MTS CeTO market an important step in optimising the infrastructure of the Polish capital market.
The seventh series of structured certificates issued by Deutsche Bank AG, London Branch was introduced to trading on 19 March.
The seventh series of express certificates (certificates with the issuer’s early redemption option) has the same structure as the previous ones, already quoted on the WSE, but has different redemption and observation dates.
At the end of March 2009, the WSE listed 56 structured products, including 10 bonds and 46 certificates (35 structured certificates, 1 bonus structured certificate, 1 guaranteed structured certificate, 2 short structured certificates, 7 express structured certificates).
The annual and quarterly review of the index portfolios was carried out on 20 March. In the WIG20 index, Polnord was replaced by Cyfrowy Polsat. The new stocks in the mWIG40 index are Polnord, Kogeneracja, Trakcja and PEP
An Extraordinary General Shareholders Meeting of the Warsaw Stock Exchange was held on 30 March.
The Extraordinary General Meeting passed a resolution approving amendment to the WSE Articles of Association and other resolutions accommodating amendments to the WSE privatisation concept.
The periodic classification of companies in the market segments and the Liquidity Support Programme was carried out on 31 March. One company was entered in the Alert List and 20 companies were classified in the Lower Liquidity Space.
Derivative Instruments
• The volume of trading in all derivative instruments was 1.22 million instruments in March. It was the third highest volume of trading in derivative instruments in the history of the WSE.
• The monthly volume of trading in stock futures contracts was record-high at 54.9 thousand contracts in March.
• As of 9 March 2009, the WSE publishes information on concentration of interest (LOP) on futures contracts (index and single-stock futures). Presented data include the number of securities accounts (portfolios understood as sub-accounts under the National Depository for Securities (KDPW S.A.) procedure of granting the Client Identification Number – NIK) on which the number of open interest on a given futures contracts series is greater than 20% of the total number of open interest on a given series. The information is published only if the total number of open interest is over 30 thousand. The information is published at www.gpw.pl under the tab [Quotations] -> [Session Results].
Conferences and Meetings
On 3-4 March 2009, another “Investors’ Day – Open Day of WSE Companies” took place.
The aim of the event is to allow companies to present their quarterly financial results to the largest possible group of individual investors, as well as to the representatives of the media. The meeting gives investors the possibility of direct contact with the management boards of WSE- and NewConnect-listed companies, as well as with analysts tracking recent market developments. The March meeting featured presentations of companies from the Main List and NewConnect: Instal Kraków, Auxillium, Integer, Stalexport Autostrady, LUG, Macrologic, NetMedia and Puławy.
The TMT Ventures’09 Warsaw conference was organised by the Warsaw Stock Exchange, MCI Management and New Europe Events in the head office of the WSE on 5 March. TMT Ventures’09 Warsaw conferences are addressed to entrepreneurs and investors in the new media and technology sectors. The conferences always feature an express 7-minute competition for innovative entrepreneurs and projects. During the conference, investors and business angels from Western Europe discussed the conditions of growth of the Polish TMT sector and addressed the future of the media and technologies market in Poland and CEE.
On 9 March, the WSE head office hosted a press conference held to launch the concept of establishing the Polish Women’s Congress.
The conference was attended by: Henryka Bochniarz – President, Polish Confederation of Private Employers ‘Leviathan’, Jolanta Kwaśniewska – Foundation "Communication Without Barriers", Professor Magdalena Środa – Institute of Philosophy, University of Warsaw, Helena Żukowska – Mayor of the municipality of Kowale Oleckie.
The mission of the Polish Women’s Congress will be to promote the great contribution of women into social and economic transition in Poland over the past 20 years.
Key Statistics
For more statistics see Monthly Statistics
New Listings
The company Hydrapres was listed on 6 March. Hydrapres specialises in the design and construction of hydraulic presses, hydraulic engine units and hydraulic control and drive equipment. The company has manufactured hundreds of hydraulic presses based on proprietary designs. Hydrapres also takes up serial production of machines and off-line equipment for injection moulding presses and extruding presses for plastics as well as other production line equipment.
Wealth Bay, a Kraków-based company, was listed on 12 March. The company’s core business is intermediation in trade in works of art using the web portal www.veagallery.com. The art trade intermediation service includes works offered by Polish and foreign galleries and artists and is offered to both Polish and foreign clients.
Other events
The quarterly review of the NCIndex portfolio was carried out after trading on 20 March. Following the quarterly review, the NCIndex portfolio includes shares of companies in trading on NewConnect on 13 March 2009.
According to the NCIndex rules, the participation of each company in the index depends on the number of its free-float shares.
On 23 March, the Exchange Member DM Banku BPS S.A. in Warsaw extended the scope of its operation on the WSE to include transactions in derivative instruments on client’s account.
The new scope of operation DM Banku BPS S.A. includes trading in all securities and financial instruments on client’s account.
The seminar entitled: “Are innovations and internet development going to transform the world into virtual reality?” was held on the NewConnect Floor on 23 March. The special guest of the seminar was Nikesh Arora, Google President for EMEA (Europe, Middle East, Africa) Operations, who delivered the keynote address. The discussion on the main theme of the seminar brought together WSE CEO Ludwik Sobolewski, Jan Łukasz Wejchert, CEO of Onet.pl Group, Andrzej Jaszkiewicz, Vice-President for Software Development, NaviExpert sp. z o.o.
The training session entitled “NewConnect IPO: A Growth Opportunity for SMEs” was held in Tarnów on 27 March. The training programme was attended by entrepreneurs from the Małopolska region interested in raising growth capital in the stock market.
Market Animators
COPERNICUS SECURITIES S.A. is a NewConnect Market Animator since 2 March. In total, 11 Market Animators operated on NewConnect at the end of March.
Authorised Advisors
INVEST FED Sp. z o.o. was entered in the list of NewConnect Authorised Advisors in March. At the end of March, the NewConnect market included 103 Authorised Advisors.
Key Statistics
