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.
The shareholders of PJSC Ukrainian Exchange (Kyiv), following a meeting on August 31, has approved the decision to issue 14,063 additional shares and offer the securities to Bohai Commodity Exchange (BOCE). According to the report on the Facebook page of the Ukrainian Exchange, at present the share capital of the stock exchange consists of 25,000 shares with a nominal value of UAH 1,000.
Thus, in case of acceptance of the offer, BOCE could become the owner of 36% of the increased share capital of Ukrainian Exchange.
By another decision, the shareholders approved the candidacy of Yevhen Komisarov for the post of chairman of the board of Ukrainian Exchange and appointed Olha Bazhkova his first deputy.
In addition, the shareholders authorized the board to purchase software of the trading system for up to $1 million.
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.
As reported, BOCE in late November 2016 won the auction of the State Property Fund of Ukraine to sell 99.9% of the shares of Ukrainian Bank for Reconstruction and Development, which were in state property. The final selling price was UAH 82.83 million.
The strategic group at the Ukrainian Exchange (Kyiv) has developed a plan for further development of the exchange with the priority of creating a commodity exchange on its platform, the head of Dragon Capital investment company, the largest shareholder of the Ukrainian Exchange, Tomas Fiala, has said. “The priority now is creating a commodity exchange on the Ukrainian Exchange platform,” he said in an interview with Interfax-Ukraine.
According to him, the strategic group at the stock exchange has already developed a plan for its phased development, which includes building a modern infrastructure that offers investors effective access to various segments of the market – shares, bonds, commodity contracts, as well as futures that may include not only valuable securities, indices, currencies or precious metals.
Along with the development of infrastructure, it is planned to improve technical and client services at the Ukrainian Exchange. “Dragon Capital plans to continue supporting the development of the Ukrainian Exchange, in particular by making additional investments in capital. We are interested in efficient work of the stock exchange as a broker with the largest share of turnover in the stock market,” Fiala said.
