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Montenegro Stock Exchange

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Montenegro Stock Exchange

Overview:

Montenegro Stock Exchange was established in June 1993, in base of Law on Money and Capital Market. Founders of Stock Exchange were four banks from Montenegro:

   Montenegrobanka A.D. Podgorica;
   Pljevaljska banka A.D. Pljevlja;
   Beranska banka A.D. Berane;
   Hipotekarna banka A.D. Podgorica
   and Republic of Montenegro, apropos its Agency for economic restructruction, foreign investment and development

On the General meeting on July 7, 1995. Montenegro Stock Exchange harmonised its bussines activities with Law on stock exchange, stock exchange activities and agents.

Motenegro Stock Exchange got founding licence from Federal Ministry of Finance, licence for trading with short term securities from Yugoslav Central Bank and licence for trading with long term securities from Federal Securities Commission.

Founders of Montenegro Stock Exchange, beside already mentioned, are also three banks and two insurance companies:

   Podgorička banka A.D Podgorica;
   Jugobanka A.D Podgorica;
   Niksicka banka A.D Niksic;
   Lovćen osiguranje A.D Podgorica
   i Agroosiguranje A.D Podgorica.

In purpose of increasing shareholders capital, Montenegro Stock Exchange issued the second issue of shares. New shareholders became many banks from Yugoslavian teritory: Vojvodanska banka, Continental banka, Trgovacka banka, Beogradska banka, Panonska banka, Prva tekstilna banka, Karic banka, Novosadska banka, Atlas banka i JUBMES, kao i Savezna vlada.

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