2015-05-25 13:14:26

New Opening of NewConnect market

Warsaw, 25 May 2015

New Opening of NewConnect market

PRESS RELEASE

  • NewConnect 2.0 is the next phase of development of the Alternative Trading System (ATS) aimed at activating the market community
  • GPW has appointed the Board of Authorised Advisers to enhance the responsibility of Authorised Advisers for the NewConnect market
  • The goal of GPW is to restore confidence in the ATS and to activate investors

NewConnect 2.0 is the new opening of the market to ensure that it continues to ay a key role in financing of small and medium-sized enterprises. The goal of the Management Board of GPW is to restore confidence in NewConnect and to make the market attractive to diverse investor groups.

"Today we announce a new opening of NewConnect which has been thoroughly reformed since 2012 to improve the safety of trading and the quality of listed companies. Later this year we are anning to take further steps in order to improve confidence in the market and to activate investors and issuers. We are anning, among others, a revision of the Best Practice of Authorised Advisers, a new market segmentation, improved transparency and availability of information about issuers and Authorised Advisers, and promotion of NewConnect among issuers and investors. We are also anning to strictly enforce comiance with the ATS Rules," said Paweł Tamborski, President of the Warsaw Stock Exchange.

The main pillars of NewConnect 2.0 include the appointment of the Board of Authorised Advisers. It is composed of 12 members, including nine Authorised Advisers. The responsibilities of the Board include putting forth proposed directions of development of the ATS, defining guidelines for the activity of Authorised Advisers, taking steps improving the quality of services of Authorised Advisers, and issuing opinions on amendments to laws and regulations concerning the organisation of the ATS. The Board of Authorised Advisers will function as an advisory committee to GPW.

"We want Authorised Advisors, who are responsible for reviewing prospective issuers on NewConnect as reliable business operators, to assume more responsibility for the market. Confidence in the market can be restored if all market participants are committed to it," said Paweł Tamborski.

The Exchange has published the "NewConnect Market Report" which summarises nearly seven years of its operation. According to the Report, NewConnect lists many promising and good quality companies for which the market has become a well-tailored solution. In the seven years, NewConnect has enabled growth of hundreds of small and medium-sized enterprises. For some companies listed on NewConnect, the ATS is a springboard to the GPW Main Market.

Today NewConnect lists 432 companies (including 11 foreign companies) whose total capitalisation is around PLN 9.6 billion. NewConnect remains one of the fastest growing alternative markets in Europe by the number of IPOs1.
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1 Source: FESE, IPO Watch Europe, LSE Group

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Warsaw Stock Exchange (GPW) is the biggest securities exchange in Central and Eastern Europe. GPW operates a regulated market of shares and derivative instruments and the alternative stock market NewConnect for growing companies. GPW is developing Catalyst, a market for issuers of corporate and municipal bonds, as well as commodity markets. Since 9 November 2010, GPW is a public company listed on Warsaw Stock Exchange. For more information visit http://www.gpw.

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