Macedonian Stock Exchange – attempted sale of the majority stake (2009)


The initiative for the sale of Macedonian Stock Exchange Skopje (MSE) through a closed tender was agreed by a group of shareholders representing the majority of the share capital.


In the end of 2008 Bulbrokers Consulting was mandated as an exclusive financial advisor to the sellers, responsible for managing and coordinating the sale process. The scope of its work included preparation of marketing materials, information memorandum and transaction documents, identification and approaching the potential buyers, organization and execution of a staged competitive tender process.


The negative effect of the ongoing global financial crisis on the interested bidders and some particular legislative issues regarding MSE made it necessary for the process to be postponed.