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Today on June 2nd, 2021, the American Chamber of Commerce in Albania (AmCham) in cooperation with the Albanian Securities Exchange (ALSE) and Grant Thornton Albania organized with its members the round-table with the topic: “Capital Market and Albanian Exchange listing as an Alternative for Corporate Financing”.
The event was welcomed by Mr. Enio Jaço, the President of AMCham as well as by Mr. Ervin Mete, Executive Director of the Albanian Financial Supervisory Authority (AFSA). Mr. Jaço discussed the importance of capital markets in a faster development of the economy, as an effective tool to be explored by the Albanian businesses, While Mr. Mete expressed his will and the philosophy of the regulatory body run by him, to support the development of the domestic capital market. In addition, Mr. Mete made an expose of the legal and infrastructural reforms undertaken by the Albanian Government and the AFSA to improve capital market legislation bringing it closer to EU Directives as well as gave the participants information on the strategy for the domestic capital market development, which is being prepared by AFSA with the support of World Bank experts.
Following, the presentations of key speakers representing capital market operators took place. Mr. Mark Crawford, the president of Aksioner Securities Brokerage drew the attention on the importance of the capital market in the economic development of Albania comparing it with examples from Balkan neighbor countries. He also considered very important the involvement of big domestic and foreign investment projects into the process of capital market and stock exchange listing as a good tool not only to raise capital, but also to mobilize the local capital resources.
Mr. Artan Gjergji, the Chief Executive Officer of the Albanian Securities Exchange informed the participants with the models of financing business through issuance of corporate stocks and/or bonds, focusing on the benefits of business to use capital markets as the most effective way of financing their activity. He also informed the participants on the listing criteria and the costs of the listing process in the Albanian Securities Exchange.
Mr. Kledi Kodra, Managing Partner of Grant Thornton Albania gave the participants an overview of the corporate governance principle and financial obligations to be fulfilled by the corporates, which shall issue stocks and bonds in the Albanian Securities Exchange. He stressed the importance of financial disclosure, transparency and auditing procedures as key factors for listed corporations which are considered by law as Public Interest Entities (PIEs).
At the end, all guest speakers answered the questions coming from participants.[/vc_column_text][/vc_column][/vc_row]