Matt Atlas

Prague Bourse Wants To List 30 Foreign Companies

Czech Economy

Prague, May 7 (CTK) – Prague bourse wants to introduce roughly 30 foreign companies to the Czech stock exchange, including the owner of Komercni banka, French group Societe Generale, daily E15 said today referring to an anonymous source.


The Prague Stock Exchange (BCPP) spokesman Jiri Kovarik did not want to comment on the issue.


The foreign companies will be traded via dual listing where a company lists its shares on a second exchange in addition to its domestic exchange, E15 said. This is how it works with Austria’s Erste Bank and VIG insurer trading on the BCPP.


Some clients may find it interesting as they will likely be able to buy the companies’ shares in Czech crowns, not worrying about the same listings on foreign stock exchanges, J&T Banka analyst Milan Vanicek told CTK.


The Prague bourse will launch trading in the foreign listings cooperating with stock dealers Wood & Company, Patria Finance and Raiffeisen Centrobank, E15 said.


This step could boost the Czech stock exchange, E15 wrote.


In 2017, trading volume on the BCPP decreased annually by nearly Kc30bn to Kc138.8bn, while it exceeded Kc1,000bn in 2007.