The Government of Montenegro intends to buy the shares of the Montenegro Stock Exchange that are owned by the bankrupt Atlas Bank.
That decision was made at a telephone session, the Government announced.
The bankrupt Atlas bank is owned by businessman Duško Knežević.
"The information highlights the importance of the Ministry of Finance and the Government following developments on the capital market and, in the case of adequate offers, actively participating in the purchase of shares. This includes the possibility of purchasing shares in the 'Montenegroberza' AD itself, which would contribute to the institutional presence of the state in this market," it is stated. from the Government.
They remind that the ownership structure of "Montenegroberza" AD is such that more than 50 percent of the shares are held by investment companies whose shareholders cannot exercise their rights based on the ownership of shares in "Montenegroberza", based on court decisions on the blocking of assets.
The government, in its explanation of this decision, states that "the proactive role of the state in the sphere of public finances implies a presence on the capital market as well."
"Given that in the last few months, a significant shift in that direction has been visible and that the state's intention is to participate even more in the capital market in the future, it is to be expected that in cooperation with the institutions of the capital market (Montenegro Stock Exchange and CKDD) it works in a coordinated manner on creating a more favorable and safer environment for investment," said the Government.
They add that investment security is not guaranteed, precisely because the management of "Monetengroberza" is carried out by minority shareholders, the largest number of whom are from abroad.
"It does not follow as a logical conclusion that the state enters the ownership structure of the 'Montenegroberza' in the largest possible percentage," concluded the Government.
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