Armenia: OMX buys Armenian bourse

Market participants are confident that Scandinavian exchange operator OMX’s acquisition of the Armenian Stock Exchange (Armex) will help to boost interest in the Caucasian republic’s burgeoning capital markets in 2008.

As of the start of January, OMX assumed control of 100% of the shares of Armex and the Central Depository of Armenia, following an initial agreement signed at the end of April.

Magnus Böcker, OMX’s chief executive, says: “The rapid economic growth in Armenia, as well as the good cooperation between OMX and the government and Central Bank of Armenia, give us confidence in the long-term growth potential of the Armenian market.”

The Armenian authorities have warmly greeted OMX’s acquisition.

Access intelligence that drives action

To unlock this research, enter your email to log in or enquire about access