Zagreb Stock Exchange announced replacing the CE ENTER market with “Progress”
The CE Enter Market will be terminated on 1 October. Established in 2016, it was created as an alternative market run by the Zagreb Stock Exchange as a continuation of the previous multilateral facility (MTF), which has been in place since 2009.
The shutdown had been decided upon due to the Zagreb Stock Exchange’s intention to manage a MTF with higher corporate governance standards and transparency under the name Progress.
The Progress market was conceived to be a multilateral trading platform for financing small and medium-sized companies either through the collection of new capital or technical trading in order to facilitate a simple change or transfer of ownership.
For the purpose of launching Progress, the Zagreb Stock Exchange made a call for applications for the status of authorised advisor. The role of the adviser is to prepare the issuer for operating on the Progress segment, as well as the preparation of the documents on the classification of securities of the issuer and the monitoring of the issuer after the listing of its securities for a period of at least two years from the date of listing.
Securities trading on the Progress market will take place via the XETRA trading platform, which will be configured for the Progress Market from 1 June. The Zagreb Stock Exchange will also publish separate Periodic Reports for the Progress Market.
Nikoleta Rodin Marotti
Global Securities Services Croatia