Olaine, 12 April 2012
Bank Finasta to Become a Market Maker for Olainfarm
As of today, April 12, 2012, bank Finasta will become a liquidity
provider for JSC Olainfarm shares that are listed on
NASDAQ OMX Baltic Main List. Olainfarm is the only listed company
in Latvia for which shares the market making is provided.
Bank Finasta, in the capacity of market maker for Olainfarm, has
committed itself to maintain a specified price on the buy and
sell side during trading hours. Finasta will maintain the demand
and supply for Olainfarm shares at total value of LVL 2000
with a maximum spread between the demand and supply price of 4%..
Consequently, the company investors and shareholders will
be able to buy or sell shares at small quantities with less
influence on the price.
“Supported by NASDAQ OMX and Finasta, we give extra assurance to
our existing and potential investors. This is one more step
by Olainfarm towards high quality investor relations. Both our
present shareholders and potential investors will benefit from
the liquidity provided to our listed shares,” believes Salvis
Lapiņš, a JSC Olainfarm” Member of the Board.
Market making is a common practice to promote trading. Currently
Orion Securities and now also Finasta are liquidity providers
in the Baltic market. Now four Baltic listed companies
have market makers: Olainfarm, City Service, Grigiskes,
Vilkyškiu
pienine and market making is provided also for the OMX Baltic
Benchmark Fund units.
„Liquidity providing is not a common practice in the Baltic stock
exchanges, and this is why we see here an opportunity to
promote this financial service. Bank Finasta is actively expanding
the range of services it is providing, thereby trying to
find the most appropriate financial service for each individual
client. Also, we are willing to make our contribution towards
the development of NASDAQ OMX Baltic securities market,” explains
Andrej Cyba, a Finasta Member of the Board, Director of
Finance Markets division.
„The fact that after the economic downturn both listed companies
and stock exchange members are starting to pay more attention
to liquidity is an evidence of market stability and positive
sentiment in general. We hope that other listed companies and
stock exchange members will follow the example demonstrated by
Finasta and Olainfarm,” adds Daiga Auziņa-Melalksne, Head of
NASDAQ OMX Baltic Markets.
Already for several years Olainfarm has been working towards
enhancing the investor relations quality. At present Olainfarm
is the only Latvian company traded on NASDAQ OMX Baltic market that
is publishing the current monthly sales data, conducting
investor webinars on a regular basis, and now also is the only
Latvian listed company to have a market maker.
About JSC Olainfarm
JSC Olainfarm is one of the largest companies in the Baltic
States with 40 years of experience in production of medicinal
and
chemical pharmaceutical products. The key principle of the Company
is manufacturing of reliable and effective high quality
products for Latvia and the rest of world. Products of JSC
Olainfarm are exported to more than 30 countries, including the
Baltic States, Russia, other CIS countries, Scandinavian, Western
European and Asian countries, as well as North America and
Australia.
About NASDAQ OMX Group
The inventor and transformer of the electronic exchange, The
NASDAQ OMX Group, Inc., fuels economies with revolutionary
technologies for the entire lifecycle of a trade - from risk
management to trade to surveillance to clearing. In the US and
Europe, we own and operate 24 markets, 3 clearinghouses and 6
central securities depositories supporting equities, options,
fixed income, derivatives, commodities, futures and structured
products. Able to traffic more than 1 million messages per
second at sub-80 microsecond speeds with 99.999% uptime, our
technology drives more than 70 exchanges in 50 developed and
emerging countries into the future, powering 1 in 10 of the world’s
securities transactions. Our award-winning data products
and worldwide indexes are the benchmarks in the financial industry.
Home to 3,400 listed companies worth $5.1 trillion in
market cap whose innovations shape our world, we give the ideas of
tomorrow access to capital today. Welcome to where the
world takes a big leap forward, daily. Welcome to the NASDAQ
OMX Century. To learn more, visit www.nasdaqomx.com.
Follow
us on Facebook (http://www.facebook.com/NASDAQ)
and Twitter (http://www.twitter.com/nasdaqomx).
(Symbol: NDAQ and member of
S&P 500)
About Finasta bank
Finasta is the largest investment bank in the Baltic region by
assets under management and the number of private banking
clients. Established in 2008 the bank Finasta specialises in
investment and private banking services. The bank provides a
package of investment, financial management and corporate finance
services to private and corporate clients and offers
tailor-made corporate lending solutions.
The bank has over 11,000 clients with their investment assets worth
EUR 385 million. Finasta bank is one of the largest brokerage
service providers in the Baltic region.
More information:
Salvis Lapiņš
JSC „Olainfarm“ Member of the Board
mob. phone +37126448873
e-mail: slapinsh@olainfarm.lv
Āris Dreimanis
Head of Corporate Communications, NASDAQ OMX Riga
phone: +371 67212431
e-mail: aris.dreimanis@nasdaqomx.com
Andrej Cyba
Bank Finasta
Member of the Board, Director of Finance Markets division
Phone +370 5 2361856
e-mail: Andrej.Cyba@Finasta.com
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