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Croatian finance minister visits New York Stock Exchange

WASHINGTON/NEW YORK, April 25 (Hina) - Croatian Finance Minister IvanSuker on Tuesday visited the New York Stock Exchange and discussed thepossibility of including Croatian oil company INA's shares on it, theCroatian Finance Ministry said in a press release.
WASHINGTON/NEW YORK, April 25 (Hina) - Croatian Finance Minister Ivan Suker on Tuesday visited the New York Stock Exchange and discussed the possibility of including Croatian oil company INA's shares on it, the Croatian Finance Ministry said in a press release.

Suker met NYSE president Catherine Kinney, who said the economic situation in Croatia was good, that fiscal reforms had been carried out successfully, and that the country was making swift progress to the European Union.

Kinney suggested that Suker consider a bigger role for the NYSE when Croatian companies entered the market.

She supported Croatia's strategy for strengthening its capital market and said the NYSE was ready to be an additional market, alongside Croatian stock exchanges, during future privatisations of major companies.

Kinney said the advantage of trading in Croatian shares on the NYSE was the liquidity of the US market and the large number of potential investors. She added this would also be attractive for Croatia in terms of tourism because US investors would become more aware of the other possibilities Croatia offers.

US investors wish to invest in non-US shares and are particularly interested in shares of companies from small countries such as Croatia given that investing in Croatian shares means investing in Croatia, read the press release.

The final decision on which stock exchange INA shares will be listed will be made by the Croatian government based on a proposal by a privatisation advisor.

Kinney suggested that Suker should send his colleagues or Zagreb Stock Exchange staff to the NYSE to learn more about market strategies and technological achievements. She accepted Suker's invitation to visit Croatia.

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