Privatisation of Polish Stock Exchange in the Light of Capital Markets Strategy

Expansion of public stock market in Poland will depend on the minimising of distance between Stock Exchange in Warsaw and more developed Stock Exchanges in Europe. That is why the strategy of capital market's expansion has been prepared and implemented since 2004. The main aim of this article is to present the conditions determining planned process of ownership transformations on Warsaw Stock Exchange. The hypothesis presented in the article is that the most rational solution is to begin the privatisation process with finding the strategic investor, who will first buy out the minority shareholders and then sell the rest of shares to the national financial intermediary and individual investors.