Warsaw Stock Exchange
The Warsaw Stock Exchange (Polish Giełda Papierów Printing Works w Warszawie, GPW ) is the Polish Stock Exchange, based in Warsaw. Operators of the stock market is the stock company Giełda Papierów Printing Works w Warszawie SA
- 2.1 Equity Indices
- 2.2 Number of IPOs
- 2.3 Number of IPOs by foreign companies
- 2.4 seat
- 2.5 President
- 3.1 Summary 2007
- 3.2 Number of IPOs on New Connect
- 4.1 External links
- 4.2 footnotes
History
The first stock exchange in Warsaw was established on 21 March 1817. In the second half of the 19th century developed a significant stock trading. In the interwar period, there were other Polish cities ( Katowice, Krakow, Lviv, Łódź, Poznań and Vilnius ) more exchanges, but on the Warsaw Stock Exchange 90 % of the Polish trade volume was at that time settled. After the German invasion of Poland in 1939 the stock market was closed and remained until the end of the People's Republic of Poland out of service.
On 16 April 1991, the stock market was reopened. Seat was the former building of the Polish United Workers' Party. CEO was Wieslaw Rozlucki and on the first trading five companies were listed. 1998 138 companies were listed.
Chronology
Presence
The Warsaw Stock Exchange is one of the fastest growing stock exchanges in the world. It is one of the largest exchange in Central Eastern Europe, and had in 2004, the Vienna Stock Exchange caught up in terms of market capitalization. In 2009 she had to give up the top spot in the CEE Stock Exchange Group. The rapid development of the WSE since 2002/ 03 is based on a consistently high economic growth ( 5.3% and 3.3% in the years 2004 and 2005), the EU accession of Poland and a high number of privatization through the stock market in recent years. In 2004, there were 36 IPOs on the stock market instead of having a volume of 8.34 billion euros - including four foreign companies - and the GPW was in terms of the number of IPOs in second place in Europe after the London Stock Exchange. The following year, there were 35 IPOs - including two foreign companies - and the GPW reached number three in Europe. The largest IPO was about the Bank PKO BP SA in autumn 2004, which was a volume of 1.78 billion euros is the second largest IPO in Europe in 2004. In the next few years will see several large privatization of large state-owned enterprises, such as the Polish State Railways PKP, the Polish Post Poczta Polska SA and the stock exchange operator GPW S. A. itself also strive more and more Polish and foreign private companies in a placement to the GPW.
The investors are just as international as the issuer. It is made up about a third each from Polish private investors, Polish institutional investors and foreign investors. The main indices of the TIG ( Warszawski Indeks Giełdowy ) and the WIG 20, increased in 2004 by 27.98 % and 24.56 % in 2005 and by approximately 36% and reached on 27 December 2005, with over 35,000 and 2,700 points new record highs. 2005 paid the listed companies about 8 billion Polish zloty dividend, with an annual sales volume of nearly $ 200 billion. The market capitalization end of 2004 was 214.3 billion zloty and the end of 2005 311 000 000 000 zloty, representing a third of the gross domestic product.
End of 2009, several international exchange operators were interested in a takeover of the Warsaw Stock Exchange, including the German Börse AG. On 9 November 2010, the IPO of the Warsaw Stock Exchange took place. The Polish government has it sold 64 percent of the shares and thus occupied about 300 million euros. The papers were oversubscribed 25 times.
The WIG30 index was introduced on 23 September 2013, and will replace the WIG 20 index by the end of 2015. The effective date for the determination of the underlying asset became the 23rd December 2012, taken with 2582.98 points.
Equity indices
- TIG
- WIG 20
- WIG30
- MWIG 40
- Swig 80
- TIG BANKI
- TIG Budow
- TIG CHEMIA
- TIG Dewel
- TIG ENERGY
- TIG INFO
- TIG -MEDIA
- TIG PALIWA
- WIG -PL
- TIG SPOZYW
- TIG Surowce
- TIG TELKOM
Number of IPOs
- 2004: 36
- 2005: 35
- 2006: 38
- 2007: 105
- 2008: 93
- 2009: 38
- 2010: 110
- 2011: 198
Number of IPOs by foreign companies
- 2003: 1
- 2004: 3
- 2005: 2
- 2006: 6
- 2007: 12
- 2008: 4
- 2009: 0
- 2010: 0
- 2011: 6
Seat
The old market was from 1817 to 1828 in the Saxon Palace, then in the building of the Polish Bank and from 1877 in its own building at the Saxon Garden. In the 1990s, the stock market was housed in the former headquarters of the United Workers' Party, until they finally moved into a new building in Książęca Street (near Plac Trzech Krzyży ).
President
- Wieslaw Rozlucki (1991-2006)
- Ludwik Sobolewski (2006-2013)
- Adam Maciejewski (since 2013)
New Connect
Since 30 August 2007, the Warsaw Stock Exchange operates a further Trade - New Connect, which, for example, is aimed at small, young, dynamically developing companies in the high-tech industry, which by their IPO not more than 5 million want to procure. euros. New Connect is based on the Alternative Investment Market in London, on First North under the Scandinavian exchange OMX Group and on German stock exchange - Entry Standard. A private offering ( private placement) may be located at a maximum of 99 direct retail and institutional investors and requires only a simple disclosure document, which must be endorsed by an authorized advisor. Who is authorized to make these discussions, the exchange sets. The preparation of an IPO (IPO ) of the New Connect to last only 2 to 3 months (with an emission value under 2.5 million euro or even 5 days), while you have to plan for an IPO on the Warsaw Stock 6 to 9 months. Issue costs are estimated to be 5-7 % of the issue value. Companies listed on the New Connect societies do not have a quarterly basis, but only semi -annual or annual report reports. The listings will take place through the trading system WARSET daily 10-14 clock. At the Warsaw Stock Exchange 's session lasts 9 to 16.30 clock.
Summary of 2007
From 30 August 2007 to 31 December 2007 included the New Connect 24 IPOs. The value of their bids totaled 150 million zloty. Leading the company LUG ( 20.5 million zloty ) was followed by five working groups with 10 million each Złoty Strong Development, Inwest Connect, Mera Schody, WDM and MW Trade. In contrast, the music dealer e - muzyka brought with him only IPO shares for 1.6 million zloty on the market.
Number of IPOs on New Connect
- 2007: 24
- 2008: 80 (forecast )