Moscow Exchange to Get Rid of Ukrainian Exchange Shares

© Sputnik / Alexandr Demyanchuk / Go to the mediabankUkrainian notes and hryvnia coin.
Ukrainian notes and hryvnia coin. - Sputnik International
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The Moscow Exchange plans to sell its 43 percent of its stock of the Ukrainian Stock Exchange to Ukraine’s investment company Dragon Capital, the Russian newspaper Vedomosti reported citing sources familiar with the situation.

According to one of the sources, the talks involved another Ukrainian company, Univer Capital, but now its participation in the deal is not confirmed.

Dragon Capital acts on behalf of a Ukrainian group of companies called Privat, owned by oligarch Igor Kolomoyskiy, another source told Vedomosti.

Igor Mazepa, head of the Exchange Supervisory Board, said there are two options in the situation: "the Ukrainian Stock Exchange may buy its stock back from the Moscow Exchange, or some Ukrainian companies would buy it."

He added that no talks were held with companies owned by Kolomoyskiy.

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A representative of the Moscow Exchange in turn said it has not received offers from Kolomoyskiy’s companies. He added that currently the company is considering various options.

Moscow Exchange’s share in the capital of the Ukrainian Stock Exchange is accounted at nominal value, according to a source.

The total value of the Ukrainian Exchange is 25 million hryvnias (nearly $1.2 million), with the Moscow Exchange holding a stock of about 11 million hryvnias ($500,000).

Oleg Tkachenko, chairman of the board of the Ukrainian Exchange, said his company as emitter cannot participate in the talks. Dragon Capital and Univer Capital did not provide any comments.

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