Stocks of about thirty foreign companies will be traded in the near future on the Prague Stock Exchange, “Czech Business Day E15 reported, referring to sources that are not desirable to name themselves.
According to the newspaper, the French company Société Générale, which is owned by the Czech Bank of Commerce, is one of the largest Czech banks, is listed on the Prague Stock Exchange.
Jirí Kovarík, the spokesman for the Prague Stock Exchange, did not want to comment on the E15’s comments.
The Czech business newspaper knows that it will be possible to trade on the Prague Stock Exchange with the shares of foreign companies in the so-called dual listing. The shares of companies already listed on other stock exchanges can be traded on the Czech market. In the same way, the shares of the Austrian Erste and VIG groups can be traded on the Prague Stock Exchange, for which the main market is traded on the Vienna Stock Exchange.
For Czech customers this is advantageous because they can buy new papers for the Czech crown and not need to buy them on foreign stock exchanges and their portfolio may expand with foreign shares, analyst Milan Vanícek, analyst at J & T Bank, CTK news agency.
The E15 knows that the shares of foreign companies are being marketed by the Prague Stock Exchange in cooperation with Wood & Company, Patria Finance and Raiffeisen Centrobank.
The paper considers that this step can contribute to boosting the Czech stock market. Last year, the value of the deals on the Prague Stock Exchange fell by almost HRK 30 billion to HRK 138.8 billion. Ten years ago, in 2007, the turnover of the Prague stock exchange exceeded the thousands of crowns.