VILNIUS - Lithuania's State Property Fund said last week that it would privatize the National Stock Exchange next year, selling it together with the central securities depository to a strategic investor.
The initial bidding price for the 32-percent stake in the securities depository (Lietuvos Centrinis Vertybiniu Popieriu Depozitoriumas) has been set at 4.1 million litas (1.1 million euros), while the initial price for the 54.47 percent share in the stock exchange (Nacionaline Vertybiniu Popieriu Birza) is 3.35 million litas.
The privatization plan contains qualification criteria for potential bidders as well as special conditions on the sale of the shares.
The Warsaw Stock Exchange has already expressed an interest in acquiring the two assets.
Other interested parties include the Helsinki Exchange Group, which already owns the Tallinn Stock Exchange and the Riga Stock Exchange and recently merged with OM, Sweden's national exchange.
"HEX may be a serious rival standing in our way, since its experience in taking over other markets is one of its biggest assets. However, I still think we have a chance," WSE President Wiesaw Rozucki told the Warsaw Business Journal.
Privatization prospectuses costing 5,000 litas will be sold only to those potential bidders who present proof that they comply with all criteria. The sale of prospectuses will begin on Jan. 29, 2004 and will last until the closing date of March 3.
