WSE has organisational and equity links to the Group subsidiaries and associates. The description of the Group and associates is to be found in section I.4 of this Report.
In 2014, WSE did not make or divest any equity investments in any entities other than associates. The description of investments in associates and subsidiaries in 2014 is presented in section V.3 of this Report.
Equity links of WSE to the companies from outside the Group as at 31 December 2014 are the foreign investments in S.C. Sibex - Sibiu Stock Exchange S.A. and INNEX PJSC.
In addition to the stake in the above mentioned companies, as well as in the Group subsidiaries and associates, WSE’s major domestic investments as at 31 December 2014 comprise:
- long-term Treasury bonds,
- bank deposits.
Except for the investment in the Romanian stock exchange S.C. Sibex - Sibiu Stock Exchange S.A. and INNEX PJSC, the Company has no other foreign investments. All the above investments were financed with own funds of the Company.
Details of the parent entity’s investments were disclosed in the Separate Financial Statements of Giełda Papierów Wartościowych w Warszawie S.A. for the years ended 31 December 2014 and 31 December 2013.
Transactions of the Group with related parties are described in the Consolidated Financial Statements of Giełda Papierów Wartościowych w Warszawie S.A. for the years ended 31 December 2014 and 31 December 2013. Transactions of the parent entity with associates and subsidiaries are described in the Separate Financial Statements of Giełda Papierów Wartościowych w Warszawie S.A. for the years ended 31 December 2014 and 31 December 2013.