Stock exchanges in Montenegro to merge - "Atlas Mont" takes over stocks of Montenegroberza

Investment fund "Atlas Mont" is going to submit a public bid for takeover of stocks of Montenegroberza, one of the two capital markets in Montenegro, after it became the owner of over 48% of stocks of that stock exchange.

"Atlas Mont" is bound by the Law on Takeover of Stock Companies to announce a public bid for takeover of stocks since it owns more than 40% of stocks of Montenegroberza.

Other stockholders of Montenegroberza are insurance company Lovćen Osiguranje - 22.5%, Prva banka - 9.2%, ProVladex - about 5%, Monte Adria broker-dealer - about 5%, and "Inex petrol" - 1.5%.

After "Atlas Mont" increased its share in Montenegroberza to 48% and the share in Nex Montenegro to 39%, the merger of these markets was announced, and Montenegrin press writes that the merger of stock exchanges should be finished in the first quarter of the next year.

There are, however, roomers that the third Montenegrin capital market - the Podgorica Stock Exchange - may be formed. That stock exchange would be founded by banks and broker companies that were left outside the majority package of stocks after the transactions involving the stocks of Nex and Montenegroberza.