Homepage » Press about PFTS » Ukraine bourse mulls status after M&A interest
Ukraine bourse mulls status after M&A interest
25.03.08
Reuters
KYIV, March 24 - Ukraine's main PFTS stock market will decide soon whether to transform itself into a joint stock company, a spokesman said on Monday, in a move that would open the door for foreign investment or a takeover.
The PFTS, created after the fall of the Soviet Union, has been up to now a non-profit association. Its rapid growth, although from a small base, has piqued the interest of both the Warsaw stock exchange and Russia's RTS market. The PFTS's board will vote on the issue on April 11.
The stock exchange's president, Irina Zarya, promised in January significant investment in modernising the trading system, which suffered technical glitches that month after volumes jumped during global market turbulence.
The traditionally illiquid market was one of the fastest growing in the world last year, at 135 percent, although the value of trades at $6.236 billion in 2007 is still tiny compared to Ukraine's east European neighbours. The PFTS accounts for 94 percent of the country's formal stock exchange market, although the over-the-counter market is far larger and more liquid.
All news