The Vienna Stock Exchange (VSX) has acquired a 92.4% share in the Prague Stock Exchange, making it the bourse’s new majority stakeholder, subject to regulatory approval of the deal.
In a statement, VSX said Prague’s exchange is one of the biggest in central and eastern Europe, with 29 listed companies and total market capitalization of around 40 billion ($50.9 billion).
So far this year, the platform’s average monthly trading volumes were 2.77 billion, it added.
The latest acquisition means VSX now owns a majority stake in three central and eastern European exchanges. Together with Oesterreichische Kontrollbank, it owns 68.8% of Hungary’s Budapest Stock Exchange and in June this year, it secured an 81.01% stake in the Ljubljana Stock Exchange of Slovenia.
VSX chief executive officer Michael Buhl said he would be meeting with the management of the Prague exchange “over the coming weeks and months” to develop new strategies.
Founded in 1771, the VSX had a market capitalization of 59.8 billion at the end of October, with average monthly trading volumes of 13.2 billion.
D.C.