The Antimonopoly Committee of Ukraine has approved an application of China’s Bohai Commodity Exchange (BOCE) to acquire a stake in the share capital of PJSC PFTS Stock Exchange (Kyiv), the press service of the committee has told Interfax-Ukraine. As reported, BOCE early May 2018 asked the Antimonopoly Committee of Ukraine for preliminary conclusions on the acquisition of over 25% of shares in PFTS. The application was returned, as information was not disclosed in a proper way. Late September, the Chinese exchange repeatedly submitted the documents.
PFTS Stock Exchange is one of the oldest in the Ukrainian stock market. In 2017, the volume of exchange contracts on the PFTS amounted to UAH 64.34 billion, and this indicator was less only compared with the Perspectiva stock exchange (UAH 127.43 billion), but it is more than at the Ukrainian Exchange (UAH 13.41 billion). The main volume of trading fell on government bonds – UAH 57.99 billion, while the turnover of shares amounted to UAH 3.16 billion, bonds of enterprises – UAH 3.19 billion.
PFTS in 2017 received a net profit of UAH 0.82 million against a net loss of UAH 1.78 million a year earlier, increasing revenues by 61.5%, to UAH 9.45 million.
Its main shareholders are Parvana Ltd. with 8.9034% of shares, Crooxton Limited – 9.0596%, Primeview Ltd. – 8.4973%, Dakal Ltd. – 9.372% and Boline Ltd. – 9, 2158%, which beneficiaries are unknown.
China’s Bohai Commodity Exchange (BOCE) on September 18 repeatedly submitted an application seeking the approval of the acquisition of a stake in the share capital of PJSC PFTS Stock Exchange (Kyiv), Head of the Antimonopoly Committee of Ukraine Yuriy Terentiev has told Interfax-Ukraine. “The Chinese side [in May 2018] applied for an agreement to acquire a stake in the PFTS, but since the seller’s control relationships were poorly disclosed, this served as the basis for returning the application. This week, on Tuesday, the party addressed with a new application,” he said on the sidelines of the annual Ukrainian Financial Forum in Odesa organized by ICU investment group.
The head of the committee added that if the documents are properly presented, an appropriate permit can be granted within 45 days.
In addition, Terentiev said that regarding the Ukrainian Exchange, which announced its intention to offer 36% of the additionally issued shares to BOCE, the committee has not yet received the application.
Earlier, BOCE studied the possibility of buying more than 25% of the shares in PJSC PFTS Stock Exchange and in early May 2018 asked the Antimonopoly Committee of Ukraine for preliminary conclusions on the acquisition of such a stake.