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NewConnect is a share market run by the Warsaw Stock Exchange, conducted outside the regulated market as an alternative trading system. The first session took place on August 30, 2007.
Warsaw Stock Exchange operates on the basis of three acts dated July 29, 2005: On Public Offering, Conditions Governing the Introduction of Financial Instruments to Organised Trading, and Public Companies; On Trading in Financial Instruments; On Capital Market Supervision.
The Exchange is a joint-stock company founded by the State Treasury. The company has share capital of PLN 41,972,000 which is divided into 15,187,200 A serie registered shares and 26,784,800 B serie registered shares. At the end of 2008, its shareholders included 35 entities. These were banks, brokerage firms, an Exchange company and the State Treasury. The State Treasury's stake was 98.82%.
The task of the WSE is to organise public trading in securities. The Exchange provides a concentration of buy and sell offers in one place and time in order to designate prices and execute transactions. |
