Capital market closer to merging
Montenegro’s NEX Stock Exchange took the next step toward integrating the country’s stock markets, adopting an initiative last week to begin official negotiations on the merge.
“The integration of Mont e n e gro’s stock exchanges will ensure a more dynamic development of the capital market, and application of European standards in financial op erations,” NEX said in a statement.
But the Board of Directors of The Montenegro Stock Exchange said the final decision on the merger will come from its bi g g est shareholders, including Hi p o t ekarna Banka, Lovcen Osig u r a nje, Investa Banka Mon t e n egro, and Prva Banka Crne Gore i ProVladeks.
NEX proposed last month the creation of a single capital market in the country by merging wi th the Montenegro Stock Ex c h a nge. A two-day survey of the majority of Mo ntenegro’s brokerage firms sho wed strong support for the move...