SEB says that OMX has made an offer to acquire all of the issued shares of the Ljubljana Stock Exchange in Slovenia. The price offered is €125.19 (SIT 30,000) per share, corresponding to a total valuation of approximately €4.2 million.
“We believe that acquiring the Ljubljana Stock Exchange is a great opportunity for us and OMX will enhance the efficiency, liquidity and visibility of the Slovenian capital market,” says Hans-Ole Jochumsen the president of Business Area Information Services and New Markets within OMX. “This will in turn strengthen the Slovene domestic securities market and Ljubljana Stock Exchange’s regional role. Our experience of developing the Nordic and Baltic market and providing technology to more than 60 exchanges in over 50 countries provide us with a strong platform from which to expand our business in Eastern Europe.”
OMX has presented its plans to the shareholders and Management Board of Ljubljana Stock Exchange. The proposed transaction is subject to approval from relevant Slovenian authorities. OMX offer is valid until 22 January 2007.
Ljubljana Stock Exchange is regionally strong and developed securities market and has more than 130 listed companies with a combined market capitalisation of over €18 billion. The Ljubljana Stock Exchange is owned by 29 financial institutions. The revenues for the first nine months of 2006 amounted to €2.6 million (23.7 percent higher than in the same period last year) and its profit before tax was €651800.