On 28th November the Bulgarian company Sopharma will debut on the Warsaw Stock Exchange. It is the second issuer form Bulgaria – after Intercapital Property Development (NewConnect) – dual-listed in Warsaw. Using the operational link with the Bulgarian market established by KDPW – the Polish CSD – in February 2010, the shares of Bulgarian companies listed in Warsaw can be cleared and settled in Poland, together with the processing of corporate actions related to those securities.
KDPW’s work on building new cross-border operational links and improving returns on existing links is part of the company’s Corporate Strategy for 2010-2013. The goals and strategic projects include co-operation with the Warsaw Stock Exchange and Polish market participants to enable foreign securities to be listed in Warsaw. The co-operation with Bulgaria is also part of the strategy to strengthen the position of KDPW in the region.
KDPW is actively involved in attracting foreign issuers to the Polish market, in particular issuers from the largest markets in the CEE region. This is another element in the realisation of KDPW’s business strategy that underlines our continuing efforts to strengthen our position in Poland and throughout Central and Eastern Europe – says Iwona Sroka, the KDPW President and CEO.
Currently, KDPW maintains operational connections with 17 foreign central securities depositories, including seven direct links between KDPW and a foreign depository, including KDD and nine indirect links, either via one of two international depositories (Clearstream Banking Luxembourg and Euroclear Bank) or through a custodian bank (the link to the Bulgarian market).
KDPW’s existing links enable the WSE to list over two dozen foreign companies from Austria, Bulgaria, Canada, the Czech Republic, Estonia, France, Germany, Hungary, Italy, Lithuania, Slovakia, Slovenia, Sweden, the UK, the USA.