slide1 l.
Download
Skip this Video
Loading SlideShow in 5 Seconds..
WARSAW STOCK EXCHANGE – AN OVERVIEW OF THE MARKET PowerPoint Presentation
Download Presentation
WARSAW STOCK EXCHANGE – AN OVERVIEW OF THE MARKET

Loading in 2 Seconds...

play fullscreen
1 / 13

WARSAW STOCK EXCHANGE – AN OVERVIEW OF THE MARKET - PowerPoint PPT Presentation


  • 472 Views
  • Uploaded on

WARSAW STOCK EXCHANGE – AN OVERVIEW OF THE MARKET Dr. Ludwik Sobolewski, CEO Warsaw Stock Exchange Prague, 18 April 2007 Launch of WSE derivatives market – WIG20 futures Establishment of WSE Listing of first foreign company - Bank Austria Creditanstalt AG

loader
I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.
capcha
Download Presentation

PowerPoint Slideshow about 'WARSAW STOCK EXCHANGE – AN OVERVIEW OF THE MARKET' - andrew


An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -
Presentation Transcript
slide1

WARSAW STOCK EXCHANGE – AN OVERVIEW OF THE MARKET

Dr. Ludwik Sobolewski,

CEO

Warsaw Stock Exchange

Prague, 18 April 2007

slide2

Launch of WSE derivatives market – WIG20 futures

Establishment of WSE

Listing of first foreign company - Bank Austria Creditanstalt AG

Apr1991 Nov1994 Jan1998 Nov2000 Oct2003 May2004 Jul2005 Nov2006

National Depository for Securities spinned-off from WSE

Launch of WARSET – WSE trading system

First remote member

Poland’s EU entry

MARKET OVERVIEW

WSE EXPERIENCE - FROM LOCAL EMERGING TO FULLY-FLEDGED EUROPEAN MARKET

Launch of WSE derivatives market – WIG20 futures

Establishment of WSE

Listing of first foreign company - Bank Austria Creditanstalt AG

First IPO Partner

Apr1991 Nov1994 Jan1998 Nov2000 Oct2003 May2004 Jul2005 Nov2006

National Depository for Securities spinned-off from WSE

Launch of WARSET – WSE trading system

First remote member

Poland’s EU entry

  • progressing internationalization of WSE:
    • - 12 foreign companies from the Netherlands, Austria, Hungary, Germany, Ukraine, Slovakia, Czech Republic, USA
    • - 12 remote members from Austria, Germany, Hungary, Sweden, Great Britain, France, Czech Republic, Estonia
  • diversified and innovative product offer (unique in the CEE region)
  • state-of-the-art technological solutions - effective and safe trading system with access via communication protocols (MMTP, FIX) and global operator (TNS)
2006 gains in domestic market capitalisation comparison of december 2006 with december 2005
2006 GAINS IN DOMESTIC MARKET CAPITALISATION(Comparison of December 2006 with December 2005)

MARKET OVERVIEW

Note: In brackets place in WFE ranking; Source: WFE

slide4
2006 GAINS IN VALUE OF SHARE TRADING(Comparison of the period January–December 2006 with the same period of 2005)

MARKET OVERVIEW

Note: In brackets place in WFE ranking; Source: WFE

2006 gains in number of listed companies comparison of december 2006 with december 2005
2006 GAINS IN NUMBER OF LISTED COMPANIES(Comparison of December 2006 with December 2005)

MARKET OVERVIEW

Note: In brackets place in WFE ranking; Source: WFE

wse basic characteristics
WSE - BASIC CHARACTERISTICS

MARKET OVERVIEW

  • 38 member firms, including 12 remote members
  • 297 (including 12 foreign) listed companies
  • equity market capitalisation - Euro136 billion (domestic companies)
  • over 60 bond issues (mainly T-bonds)
  • derivatives market (index, currency and stock futures, index and stock options, T-bond futures)
  • equity market - 2006 value traded - Euro 91 bn
  • derivatives market - 2006 value traded - Euro 97 bn
  • P/E ratio (2006, year-end): 17.7
  • P/BV ratio (2006, year-end): 2.53
funds assets pension investment funds euro billion
FUNDS ASSETS – PENSION & INVESTMENT FUNDS(EURO BILLION)

MARKET OVERVIEW

Source: Polish Central Statistical Office and

Insurance and Pension Funds Supervisory Commission

wse increasing role in polish economy
WSE INCREASING ROLE IN POLISH ECONOMY

MARKET OVERVIEW

Domestic equity market capitalisation/GDP ratio (%)

wse attractive for issuers

MARKET OVERVIEW

WSE ATTRACTIVE FOR ISSUERS

WSE – one of the most dynamic IPOs markets in Europe

  • No. 2 in Europe in 2004 - 36 IPOs
  • No. 3 in Europe in 2005 - 35 IPOs
  • No. 5 in Europe in 2006 - 38 IPOs
  • value of IPOs in 2004 - Euro 4.25 bn
  • value of IPOs in 2005 - Euro 1.7 bn
  • value of IPOs in 2006 - Euro 1.1 bn
  • 5-6% average cost of capital (WSE average for 2004-2006)
wse pragmatic and top quality approach to corporate governance

MARKET OVERVIEW

WSE PRAGMATIC AND TOP QUALITY APPROACH TO CORPORATE GOVERNANCE

Corporate Governance Code

  • strengthens competitiveness and attractiveness of the market
  • reflects practical experience, current trends and market participants expectations
  • offers innovative approach to solving market problems
  • is both practical and useful for the market
  • offers benefits to all market participants - lower investment risk => lower cost of capital
  • supports transparency of the market and confidence of domestic and international investor community
slide12

REGIONAL COMPETENCE

ORGANIZATION FOCUSED ON EFFECTIVE ACQUISITION OF NEW ISSUERS

  • Foreign companies listed :
    • 2003 – 1 (BACA AG), 2004 – 4 (Borsodchem Plc., IVAX, BMP AG, MOL Plc.), 2005 – 2 (AMREST, SkyEurope). 2006 – 6 (ASTARTA HOLDING N.V. (AN UKRAINIAN COMPANY REGISTERED IN THE NETHERLANDS), ASSECO SLOVAKIA, CEZ, CINEMA CITY, CENTRAL EUROPEAN DISTRIBUTION CORPORATION, PEGAS NONWOVENS), 2007 – 1 (WARIMPEX)

*WSE forecast

slide13

Warsaw Stock Exchange

4 Książęca Str. 00-498 Warsaw

tel. +48 22 628 32 32, fax +48 22 628 17 54

e-mail: wse@wse.com.pl