Skopje, 11th June (MIA) – Mandatory listing will provide for the listed companies to acquire additional capital through the Stock Exchange, and for the Stock Exchange to realize more transactions and larger turnover, Vice Prime Minister and Minister of Finance, Zoran Stavreski stated.
– It is a fact that Macedonian Stock Exchange, like all Stock Exchanges in the region in the past several years, had undergone a difficult period due to the risks in the European economy and the lower appetite of the investors. Under such circumstance, sometimes it is necessary to undertake non-standard and unconventional measures, such as the measure for mandatory listing of companies on the Stock Exchange, Stavreski said at the presentation of the Project for Mandatory Listing on the Macedonian Stock Exchange.
He underlined that the measure, for which quite a lot debates were held as whether it should be adopted or not, would prove to be the right one as time passes.
– As of today, 30 new companies will be listed on the official market of the Stock Exchange as regards mandatory listing and, by the end of the month, additional 60 companies will be listed, thus there will be total of 120 companies on the official market, Stavreski said.
He also stated precisely that the current market capitalization of the Macedonian Stock Exchange amounted to around Denar 26.6 billion or 5.5% of GDP in Macedonia, which was quite low compared to the developed countries.
– With the newly listed 30 companies, market capitalization of which, at the moment, amounts to Denar 52 billion, and the existing 34 joint stock companies, total market capitalization will reach Denar 78.8 billion or 16.4 of GDP, which is quite satisfactory and is above the average of the countries in the regions, Stavreski stated.
He underlined that having the Stock Exchange work with larger number of companies and the mandatory listing would be positive as regards offer on the market, and also announced that part of the state-owned companies and public enterprises would soon prepare for issuance of securities. Hence, as he stated, the Government will additionally help to overcoming the current difficult situation, as well as to developing the securities market in Macedonia.
– Companies will realize that mandatory listing brings them benefits, rather than losses, since transparency and publishing of more data about the companies provides for an additional opportunity for the investors. At the same time, companies will do not have to rely only on credits from the domestic banks, which will provide for a competition and bank products to become more attractive and to be more inclined to the companies, Stavreski said.
He pointed out that investors are more for investing in a company they know, i.e. investigating it, analyzing it and than reaching an investment decision. Hence, he said, it is important for all decisions of listed companies to be publicly available.