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Georgian Stock Market

Published: December 12, 2013 | 2:19 pm
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The legislation regarding share market will be adopted by the Parliament towards the end of the year. The Chairman of the Board of Supervisors at the Georgian Stock Market, Gogi Lolashvili, has stated that the principles incorporated into the legislation will ensure transparency of the operations.
Currently, there are 7 broker companies on the Georgian Stock Exchange, including 4 subsidiaries of local banks. Shares from 129 companies are in the trading system.
According to Mr Lolashvili, NASDAQ is still interested in cooperating with the Georgian Stock Exchange, while there have also been more intense contacts with the stock markets in Istanbul and Warsaw recently. As for the London Stock Exchange, concrete talks have already begun between the parties.
The Georgian Stock Exchange began operating in 2000. Around 44% of the control package is owned by commercial banks, of which 32% is held by the Bank of Georgia. Around 30% of the shares package is owned by 3 broker companies, while the rest of the shares are owned by various legal entities.

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