The Cabinet of Ministers Proposes New Rules for the Development of the Ukrainian Stock Exchange: What We Know
5 June 21:56
The Cabinet of Ministers of Ukraine has submitted a draft law to the Verkhovna Rada aimed at establishing a legal framework for attracting a strategic foreign investor to a holding company that will bring together key institutions of Ukraine’s capital market infrastructure.
This was reported by the Ministry of Economy , according to "Komersant Ukrainian".
The ministry’s statement notes that the document is the next step following the signing in 2025 of a memorandum of understanding between the Ministry of Economy, the Ministry of Finance, the National Bank of Ukraine, the NSSMC, and the EBRD regarding support for an integrated capital market infrastructure in Ukraine.
Purpose and Significance of the Bill
The draft law aims to establish a transparent and understandable system that will allow investors to operate effectively in the Ukrainian capital market.
The main objective is to attract a strategic investor through a competition, which will provide the necessary investments and technologies for the development of market infrastructure.
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It is anticipated that the state will retain control over the new structure by holding at least 25% of its shares. This will ensure reliable oversight and contribute to the stability of the newly established system.
“The capital market must become one of the sources of long-term financing for the recovery and development of our economy. To achieve this, Ukraine needs a modern market infrastructure that is understandable to businesses, as well as to Ukrainian and international investors. The government’s draft law lays the legal foundation for creating a system where strategic foreign investors and the state will work together. We expect the Verkhovna Rada to support this document, and Ukraine will gain a capital market infrastructure capable of working more effectively to attract investment and drive economic recovery,” said Oleksiy Sobolev, Minister of Economy, Environment, and Agriculture of Ukraine.
The National Bank of Ukraine (NBU) has begun implementing a memorandum that provides for the transfer of management of state-owned shares in the National Depository and the Clearing Center. Plans include the creation of a holding company with an international investor and the launch of a new stock exchange.
Legislative Changes
The government’s draft bill provides for amendments to the following laws:
- “On the National Bank of Ukraine”
- “On the Management of State Property”
- “On Capital Markets and Organized Commodity Markets”
- “On the Depository System of Ukraine”
The Organization for Economic Cooperation and Development (OECD) has advised Ukraine to consolidate its fragmented domestic stock market into a single centralized structure and to create a separate growth stock market for small and medium-sized enterprises.
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