Head of national energy company Ukrenergo Vsevolod Kovalchuk hopes that the state-owned enterprise will be reorganized into a private joint-stock company in autumn 2018.
“There is a certain procedure, which should be passed step by step. If everything works perfectly, this process could be finished in August or early September 2018. This concerns the registration of our shares,” he said at a press conference in Kyiv on Tuesday.
As reported, the Cabinet of Ministers of Ukraine on November 22, 2017 approved the reorganization of state enterprise Ukrenergo into a private joint-stock company, 100% of which is state owned. All the property being on the balance sheet of the state enterprise, which ensures the integrity of the united energy system of Ukraine, dispatching management, trunk and interstate power grids, is assigned to the private JSC and not subject to alienation.
According to Kovalchuk, as part of the transformation, the company must conduct a stocktaking of assets, carry out the assessment of the value of the entire property complex of the enterprise and issue shares with their transfer to state ownership. At the same time, he recalled that the transformation to the private JSC as opposed to a public joint-stock company means the impossibility of buying and selling shares of the company on the stock exchange.
Ukrenergo operates trunk and interstate power grids, as well as conducts the centralized dispatching of the united energy system of the country. The company is a state enterprise. It is subordinated to the Ministry of Energy and Coal Industry, but it will be transformed into a private joint-stock company.