The second-largest Ukrainian mobile operator, VF Ukraine (Vodafone Ukraine, VFU), which, in connection with the payment of dividends at the end of May, repurchased its own Eurobonds worth approximately $17.7 million based on several offers, has announced another similar tender at a price of 98% of the nominal value for a total amount of $1 million 164.7 thousand.
As noted in a statement on the Irish Stock Exchange on Thursday, prior to this, on December 2, the company made another monthly tranche of dividend payments in the amount of UAH 49.315 million, which is equivalent to the monthly ceiling for such payments set by the National Bank at EUR 1 million.
Applications for participation in the tender will be accepted until December 17 inclusive, and settlements are planned by the end of the year.
Bonds maturing in February 2027 with a nominal rate of 9.625% per annum were issued for $300 million. The redemption of Eurobonds is related to the fact that on April 24, 2025, VFU announced the payment of dividends to its shareholder in the amount of UAH 660.245 million ($15.9 million at the exchange rate specified in the announcement) for 2024. According to the restrictions of the National Bank, they will be paid in separate monthly dividend payments. Each such monthly dividend is expected to amount to UAH 1 million. The company emphasized that under the terms of the bond issue, in this case, it must offer all bondholders to submit an application for their sale for an amount equal to the amount of dividends paid outside Ukraine.
In the first two tenders, Vodafone Ukraine repurchased bonds for an amount equivalent to EUR 1 million. The debut repurchase was announced at a price of 99% of the nominal value, the second at 90% of the nominal value. The company did not announce the results of the second buyback on the stock exchange, while the scaling factor for the first buyback was 0.0040355668.
Following the results of the third tender, where the redemption price was reduced to 85% of the nominal value and the offer was limited to $4.67 million, Vodafone Ukraine received bids for $53.395 million and satisfied them in the amount of $5.208 million. The scaling factor was 0.1315451889487317.
The fourth tender was announced on August 13, but was then extended seven times. As a result, the redemption price was increased from 85% to 98%, and the redemption amount to $10.84 million. The company received bids for $127.14 million for this amount. Some of the bonds were returned to their owners due to the impossibility of reducing the nominal value, and the rest were accepted with a scaling factor of 0.1150681.
As a result, on the settlement date of November 20, bonds with a total nominal value of $10 million 773.23 thousand were purchased under the tender offer. All of them were canceled, and after such cancellation, the total nominal value of bonds remaining in circulation is $281 million 759.03 thousand.
As reported, VFU increased its net profit by 10.7% to UAH 3 billion 446.80 million and its revenue by 13.3% to UAH 19.03 billion in the first nine months of this year.
The report noted that the company will receive loans from related parties this year to service and redeem Eurobonds. In February, the parent company Telco Investments B.V. provided $49.59 million for partial repayment of the Eurobond debt. In June, an agreement was signed with Telco Investments for a dollar credit line in the amount equivalent to UAH 660 million, at 10% per annum, maturing in 2028.
Finally, in July 2025, a loan agreement was signed with the Dutch company Cemin B.V. for $10 million at 10% per annum, with a repayment date no later than the end of 2027, but not earlier than the maturity of the Eurobonds. The funds are credited in tranches to the company’s bank account in a foreign bank and are to be used to redeem bonds, which Vodafone Ukraine is doing in connection with the resumption of dividend payments this year.
The Ukrainian Grain Association (UGA) forecasts that the harvest of grain and oilseeds in 2025 will reach 81.4 million tons, compared to 79 million tons (+3%) a year earlier, the association’s press service reported.
“With such a harvest, exports in the current 2025/26 season could potentially reach 49 million tons (last season – 46.7 million tons). However, this is an optimistic scenario, the implementation of which depends on the resolution of serious logistical problems,” the UGA noted.
The association recalled that Ukraine is currently experiencing significant problems in grain export logistics due to constant Russian terrorist attacks on critical infrastructure: energy, railways, and seaports of Ukraine. As a result of Russian shelling of civilian infrastructure, railways and ports cannot operate at full capacity due to damage to their infrastructure, power shortages, and constant power outages.
“It is obvious that the inability to export significant volumes of the harvested crop due to logistical problems will not only have an extremely negative impact on Ukrainian agricultural producers and the price situation on the domestic market, but may also deal a severe blow to Ukraine’s economy and its balance of payments,” the UGA noted.
The UGA estimated the wheat harvest in 2025 at 22.5 million tons, compared to 22.4 million tons (+0.45%) a year ago. With this in mind, potential wheat exports in 2025/26 MY could reach 16.5 million tons, the UGA suggested.
The barley harvest in 2025, according to the association’s estimates, is 4.9 million tons, compared to 5.6 million tons (-2.5%) a year ago, and the likely export in 2025/2026 MY is forecast at around 2.3 million tons.
The UGA expects the corn harvest to reach 32 million tons, compared to 25.9 million tons (+23.6%), and experts believe that potential exports in the current season could reach 25 million tons, provided that logistics are unhindered.
The UGA forecasts the sunflower harvest in 2025 at 11.5 million tons, compared to 12.8 million tons (-10.2%) a year ago. Traditionally, almost all sunflowers will be processed in Ukraine – 11.4 million tons, while exports will reach no more than 50 thousand tons.
The rapeseed harvest in 2025 will be 3.2 million tons, compared to 3.8 million tons (-15.8%) a year ago, while exports in 2025/26 MY may reach only 2.1 million tons, with the rest being processed in Ukraine.
According to the UGA, the soybean harvest in 2025 will be about 5 million tons, compared to 6.8 million tons (-26.5%) in 2024, which is explained by a significant reduction in the area sown with this crop and poorer yields. Nevertheless, potential exports could reach 2.5 million tons in 2025/26 MY, with the rest being processed in Ukraine, as legislative restrictions make its export difficult, as is the case with rapeseed.
“As for next year’s harvest, since the acreage under winter crops is already known and taking into account the forecast for spring crops, next year’s potential harvest could amount to 84.5 million tons of grains and oilseeds, of which Ukraine could potentially export about 50 million tons of grains and oilseeds,” the UGA predicts.
The Ukrainian Grain Association (UGA) is an association of producers, processors, and major grain exporters, which annually export about 90% of Ukrainian grain products.
Rubizhne Cardboard and Container Plant, a private joint-stock company registered in Kyiv, whose ultimate beneficiary is its director Gennady Minin, plans to pay UAH 363.32 million in dividends from part of its undistributed profits for 2020.
The relevant issue regarding the distribution of undistributed profits and the procedure for paying dividends has been included in the agenda of the general meeting of shareholders of the company on January 5, 2026.
According to the draft decisions of the meeting, it is planned to pay dividends at the rate of UAH 25.94 per share (with a par value of UAH 1.5).
According to YouControl, RKTK’s undistributed profit in 2020 (when the plant was operating in Rubizhne, Luhansk region) amounted to UAH 2.175 billion, and its net income exceeded UAH 3 billion.
According to the National Securities and Stock Market Commission, as of the third quarter of 2025, 99.1939% of the shares are owned by Komelinco Trading Ltd, a company registered in Cyprus.
The shareholders’ meeting of PJSC “RKTK” plans to review the company’s performance for 2022-2024 and approve the reports of the management bodies, as well as approve the procedures for the distribution of profits and repayment of losses for these years.
In particular, it is planned to leave undistributed profits for 2023 in the amount of UAH 74.77 million and for 2024 in the amount of UAH 75.85 million, and to cover the loss of UAH 1 billion 816 million received in 2022 with profits from future years.
Earlier it was reported that before the full-scale invasion of Ukraine by the Russian Federation, Rubizhne CTP, together with its subsidiary Trypillya Packaging Plant, was the leading manufacturer of corrugated packaging in the country.
After the destruction caused by the full-scale invasion of Ukraine by the Russian Federation, the plant in Rubizhne was shut down (the city was subsequently occupied), and the legal entity Rubizhne KTK JSC was re-registered in Kyiv.
According to YouControl, in pre-war 2021, RKTK’s net income reached UAH 5.1 billion, with a net profit of UAH 479.5 million, but by the end of 2022, net income had fallen to almost UAH 1 billion, with losses exceeding UAH 1.8 billion.
In 2023, the English company DS Smith Ukraine Limited left the group of shareholders (previously, it and Komelinco Trading owned equal stakes of 49.5969%).
Currently, the company’s main activity is the production of corrugated paper and cardboard, as well as cardboard boxes. In 2024, the plant’s net income amounted to UAH 1.16 million.
At the same time, Trypilske PK LLC, which is almost 100% owned by Rubizhne KTK and also headed by Minin, is currently ranked second among Ukrainian manufacturers of corrugated packaging after Kyiv KPC, with a production volume of UAH 2.4 billion in January-October.
The Law “On the State Budget of Ukraine for 2026,” which the Verkhovna Rada adopted on December 3, provided for an increase in expenditures to support the agricultural sector by almost 47% compared to the previous year, or by UAH 4.5 billion, to UAH 14.1 billion, according to the Ministry of Finance.
According to the report, the 2026 state budget provides for UAH 9.5 billion to finance subsidies per hectare for frontline territories, insurance of agricultural products, and UAH 0.2 billion of this amount for irrigation/land reclamation.
The 2026 state budget provides for support for farmers (loans, subsidies per 1 hectare, subsidies for cows, goats, and sheep) in the amount of UAH 2.6 billion. The government has allocated UAH 2 billion for the humanitarian demining of agricultural land.
In addition, the state budget provides for the replenishment of the “Affordable Loans 5-7-9%” entrepreneurship development fund with UAH 18 billion, the innovation fund with UAH 7.4 billion, and business support programs with UAH 4.9 billion to support business. UAH 1.9 billion and UAH 0.6 billion will be allocated to the decarbonization and energy efficiency fund, respectively.
The National Association of Lobbyists of Ukraine (NALU) is initiating an official appeal to the European Parliament regarding the rules for registering Ukrainian organizations in the EU Transparency Register.
“The National Association of Lobbyists of Ukraine will soon send an official appeal to the European Parliament requesting clear and unambiguous clarification on which Ukrainian organizations are required to register in the European Union Transparency Register in order to interact with European institutions,” she told the Interfax-Ukraine news agency.
The association will also raise the question of whether Ukrainian entities—public organizations, professional associations, business associations, consulting companies, charitable foundations, and other structures—should undergo additional registration and obtain lobbyist status when working with EU bodies in accordance with the requirements of European legislation.
The association notes that with the entry into force of Ukraine’s Law on Lobbying and the state’s active course towards European integration, the issue of harmonizing Ukrainian lobbying practices with European Union approaches is becoming critically important. The lack of clear instructions and a unified position may create legal uncertainty for Ukrainian organizations seeking to operate within the EU legal framework and represent Ukraine’s interests at the international level.
“We seek to obtain an official explanation so that Ukrainian organizations can act in accordance with European rules, avoid risks, and ensure maximum transparency in their activities. This is also important for protecting Ukraine’s image as a state that is moving towards civilized interaction and open advocacy,” notes the NALU.
The explanations received from the European Parliament are planned to be published and forwarded to Ukrainian institutions, businesses, and public organizations as an official guideline for further work with EU bodies.
The pharmaceutical company Galichpharm JSC (Lviv) plans to increase sales by 15% by the end of 2025, according to a report posted on its website.
According to the report, in the first nine months of 2025, Galichpharm produced 4.753 million packages of finished medicines worth UAH 904.94 million.
The average cost of one package of manufactured medicines in the form of injections was UAH 132.24, infusions – UAH 32.35, liquids and syrups – UAH 67.9, and tablets – UAH 22.24.
The company’s revenue for January-September reached UAH 252.449 million.
In addition, the company reports that exports accounted for 9.13% of total sales, and its products were supplied abroad for more than UAH 23 million. The company exports to the markets of Kazakhstan, Georgia, Uzbekistan, Latvia, and other countries.
According to the company’s estimates, Galichpharm ranks fifth in terms of retail sales in monetary terms for the first nine months of 2025, with a market share of 1.3%.
As reported, at the end of 2024, Galichpharm reduced its net profit by 39% compared to 2023, to UAH 13.705 million, while in 2023 this figure was UAH 22.52 million.
As reported, the investment company Sky Development won an open auction organized by the Deposit Guarantee Fund and acquired the rights to claim the insolvent JSC Bank Finance and Credit under ten loan agreements with leading Ukrainian pharmaceutical companies: JSC Galichpharm and JSC Kyivmedpreparat. According to Sky Development, the total amount of its claims exceeds UAH 3.5 billion.
For their part, Kyivmedpreparat and Galichpharm stated that the information disseminated by Sky Development is “unreliable, manipulative, and shows signs of deliberate discrediting of the companies’ activities.” In particular, both companies denied the existence of “multibillion-dollar debts” to Sky Development. The pharmaceutical companies regarded the statements of Sky Development LLC as “an attempt to illegally create non-existent creditor debt for the purpose of a possible raider takeover of the companies.”
