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Latvian capital markets development
 

Latvian capital markets development

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    Latvian capital markets development  Latvian capital markets development Presentation Transcript

    • Latvian Capital Markets Development Stock exchange listing for state owned companies Presentation given at “Baltic PR Awards” on public affairs issues. 14.05.2010. © Copyright 2008, The NASDAQ OMX Group, Inc. All rights reserved.
    • World’s largest exchange company. Represented in 6 continents. 3,700 global listed companies representing diverse industry sectors and many of the world’s most well-known and innovative brands. • Electronic trading • Offers multiple capital raising solutions to companies and • World’s fastest governments around the globe. trading platform • Provides trading across multiple asset classes including equities, • Data distributed in derivatives, debt, commodities, 83 countries structured products and ETFs. • High listing • Supports the operations of over 70 standards exchanges, clearing organizations and central securities depositories January, 2009. Riga Stock exchange changes its name to • Wide international in more than 50 countries. Group NASDAQ OMX Riga. Times Square investors base owns 10 clearing houses in the NewYork. Photo: Rob Tannenbaum NASDAQ OMX Group, Inc. All rights reserved. USA and Europe. © Copyright 2008, The
    • NASDAQ OMX - a gateway for investors in the Baltics © Copyright 2008, The NASDAQ OMX Group, Inc. All rights reserved.
    • Capital market - potential for Latvian economy Latvia’s International financial pension Banks system 2nd and 3rd tier investors (pension funds (crediting of funds, investment Resident savings companies) funds etc.) Venture capital funds Requirements: Requirements: • Public share trading on stock exchange • Sufficient share capital • Transparency and good corporate governance • Transparent business investments Direct investments in company’s Loans to in non-listed companies share capital companies © Copyright 2008, The NASDAQ OMX Group, Inc. All rights reserved.
    • © Copyright 2008, The NASDAQ OMX Group, Inc. All rights reserved.
    • © Copyright 2008, The NASDAQ OMX Group, Inc. All rights reserved.
    • Objective: to include the topic of state company exchange listing on the government agenda © Copyright 2008, The NASDAQ OMX Group, Inc. All rights reserved.
    • © Copyright 2008, The NASDAQ OMX Group, Inc. All rights reserved.
    • © Copyright 2008, The NASDAQ OMX Group, Inc. All rights reserved.
    • “Beware! Private = privatization.” © Copyright 2008, The NASDAQ OMX Group, Inc. All rights reserved.
    • Research: • Challenge and test the concept • Omnibus - sociological survey • Perception of gains and losses • One-to-one interviews • Lessons from others • Foreign experience • Middle East deal making and marriage arrangements in different cultures © Copyright 2008, The NASDAQ OMX Group, Inc. All rights reserved.
    • Kā Jūs vērtējat to, Pozitīvi vai drīzāk pozit ka valsts un pašvaldību uzņēmumi Negatīvi vai drīzāk neg tiek nodoti privāta uzņēmuma pārvaldībā? Grūti atbildēt/ NA 75% 66,8% 62 55,6% 49,8% 50% 43,0% 42,3% 37,9% 33,9% 23 25% 20,5% 14,6% 12,5% 12,7% 10,4% 0% 18-24 gadi 25-39 gadi 40-54 gadi 55-64 gadi 65-7 © Copyright 2008, The NASDAQ OMX Group, Inc. All rights reserved.
    • Goals: • to encourage a constructive dialogue about the potential benefits of public listing of state companies and include the topic on the government agenda • to promote the capital markets and stock exchange as important part of development of economy To get on the right track © Copyright 2008, The NASDAQ OMX Group, Inc. All rights reserved.
    • Strategy and implementation • Approaches - Invite stakeholders to analyze and think on the concept instead of pushing for decisions - Transparency in our activities - Clear distinction between exchange listing and privatization - Examples, case studies • Audiences - Decision makers - Experts, investors - Company management • Activities - One to one meetings - Public activities © Copyright 2008, The NASDAQ OMX Group, Inc. All rights reserved.
    • © Copyright 2008, The NASDAQ OMX Group, Inc. All rights reserved.