Ivana Gažić appointed member of the Management Board of the Macedonian Stock Exchange

The long-standing cooperation between the two regional stock exchanges has led to the appointment of Ivana Gažić, the President of the Management Board of the Zagreb Stock Exchange, as a member of the Management Board of the Macedonian Stock Exchange. 

– Regarding the vision for the development of the Macedonian Stock Exchange, we can say that our two markets are very close. Consolidation is a natural developmental path not only for smaller but also for global, large capital markets. The goal is to provide the markets with greater visibility, and investors and companies with quality and cost-effective services, as well as more opportunities for investment and capital raising. At this moment, we can only add that we have been successfully cooperating with our colleagues from Macedonia for several years, and our intention is to further deepen this cooperation for the mutual satisfaction and benefit of both our economies – stated the Zagreb Stock Exchange in response to a query from Lider.

After the Zagreb Stock Exchange acquired a 5.3 percent ownership stake in the Macedonian Stock Exchange at the end of 2019, the Macedonian regulator positively assessed the detailed documentation provided by the Zagreb Stock Exchange and agreed to further acquisition of shares whose total cumulative amount does not exceed 20 percent of the total issued shares with voting rights, as published on the Zagreb Stock Exchange’s website on March 16, 2021.

It was also highlighted that the Zagreb Stock Exchange intends to increase its ownership stake in the Macedonian Stock Exchange from 5.3 percent to 15.19 percent by acquiring 276 shares, or 9.89 percent of the shares of the Macedonian Stock Exchange. 

The cooperation between the Zagreb and Macedonian Stock Exchanges intensified in 2014 when the SEE Link d.o.o. Skopje was established together with the Bulgarian Stock Exchange, in which all three exchanges share equal ownership stakes. Additionally, the cooperation deepened in 2019 when the Macedonian Stock Exchange signed an exclusive cooperation agreement with the Croatian company Funderbeam South-East Europe d.o.o., in which the Zagreb Stock Exchange d.d. holds 30 percent ownership.

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