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Latvian capital markets development

  1. 1. 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.
  2. 2. 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
  3. 3. NASDAQ OMX - a gateway for investors in the Baltics © Copyright 2008, The NASDAQ OMX Group, Inc. All rights reserved.
  4. 4. 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.
  5. 5. © Copyright 2008, The NASDAQ OMX Group, Inc. All rights reserved.
  6. 6. © Copyright 2008, The NASDAQ OMX Group, Inc. All rights reserved.
  7. 7. Objective: to include the topic of state company exchange listing on the government agenda © Copyright 2008, The NASDAQ OMX Group, Inc. All rights reserved.
  8. 8. © Copyright 2008, The NASDAQ OMX Group, Inc. All rights reserved.
  9. 9. © Copyright 2008, The NASDAQ OMX Group, Inc. All rights reserved.
  10. 10. “Beware! Private = privatization.” © Copyright 2008, The NASDAQ OMX Group, Inc. All rights reserved.
  11. 11. 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.
  12. 12. 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.
  13. 13. 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.
  14. 14. 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.
  15. 15. © Copyright 2008, The NASDAQ OMX Group, Inc. All rights reserved.

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