The PFTS Stock Exchange (Kyiv), the largest stock exchange in Ukraine by trading volume, plans to increase its authorized capital (AC) from UAH 32.01 million to UAH 62.01 million, or 93.7%.
The shareholders will consider the issue at an extraordinary remote shareholders’ meeting on February 6 this year, according to the announcement of the meeting on the exchange’s website.
According to the announcement, the increase in the authorized capital is planned to be made by placing an additional 30 thousand shares with a par value of UAH 1 thousand through additional contributions without a public offering.
The preliminary list of persons among whom the additional shares will be placed is limited to existing shareholders, but the meeting may expand it to include other investors who intend to purchase shares.
The largest shareholder of the PFTS since the beginning of 2022 is Bohai Commodity Exchange (BOCE Co. Limited, Hong Kong) with 49.9% of shares. According to the NSSMC’s disclosure system, there were no other shareholders with a stake of more than 5% at the end of the third quarter of 2023.
At the same time, in mid-October 2023, Prime Holding LLC announced its intention to acquire 2,835 shares of the exchange, which is 8.8566% of its authorized capital.
PFTS did not publish financial statements after 9 months of 2021. According to information from the last annual shareholders’ meeting, the exchange reduced its net loss in 2022 by 8.6% compared to 2021, to UAH 3.641 million.
The volume of trading on the PFTS in 2023, according to the exchange, increased 3.6 times to UAH 320.8 billion, which accounted for 63% of the total trading volume of securities trading organizers in Ukraine, including UAH 28.6 billion in December, or 66% of the total trading volume in the country.
In particular, the volume of trades in government bonds on the PFTS in 2023 increased 3 times to UAH 308.6 billion, corporate bonds of Ukrainian issuers – 20 times to UAH 1 billion (due to the resumption of initial public offerings), bonds of foreign countries – 5 times to UAH 0.7 billion, but transactions in shares were made for only UAH 19.4 million.
In 2023, 15.7% of transactions were made on the order market, 78.7% on the quotation market (including targeted transactions), 5.3% in repo and repo with risk control, and 0.3% in the auction mode.
In December 2023, 39 trading participants on the PFTS concluded transactions with 48 securities issues (Ukrainian government bonds – 33, Ukrainian Eurobonds – 1, corporate bonds of Ukrainian issuers – 7, foreign bonds – 6, shares of Ukrainian issuers – 1), and in total, in 2023, 49 participants concluded transactions with 114 securities issues.
As of January 1, 2024, the number of PFTS members admitted to trading was 51: 30 banks and 21 financial companies. A total of 353 securities issues were admitted to trading on the exchange, of which 119 were in the Exchange Register.
The TOP-5 traders of government bonds on the PFTS in 2023 include state-owned Ukreximbank and PrivatBank, as well as Citibank, OTP Bank and Alliance Bank, while the TOP-5 traders of corporate bonds include TAScombank, Dominant Trade LLC, BTS Broker, Univer Capital and Investment Capital Ukraine.
