Stock market regulator revokes Ukrainian Exchange license

"A license of the Ukrainian Exchange has been revoked under the law on licensing due to the aggressor's participation in equity capital," the commission's press service said.

According to the regulator, the decision to cancel the license will become effective in 30 calendar days.

"We have had confirmation of serious intentions of potential buyers of shares of the Ukrainian Exchange, we gave them an opportunity to take further steps, but did not see any progress. Now the situation on the stock market is developing in the direction of a system being rebooted and bringing the stock market in line with international standards," the press service quoted NSSMC Head Timur Khromaev as saying.

As UNIAN reported earlier, on November 16, Ukrainian investment companies – Univer and Dragon Capital – signed an agreement with the Moscow Exchange, according to which it should sell its 23% and 20% stakes in the Ukrainian Exchange to the Ukrainian companies.

Taras Kozak, the president of the Univer investment group, stated that the deal would be finalized after securing a permit from the NSSMC to perform a significant acquisition of the stock exchange.

On November 17, Univer requested an NSSMC approval to buy shares of the Ukrainian Exchange from its majority shareholder, the Moscow Exchange.

On the same day, head of Dragon Capital announced that the shares acquisition process had been suspended due to the ambiguous perception of the deal by market participants.

Under the Law of Ukraine on the licensing of certain types of economic activity, the NSSMC stated earlier it had the right to revoke a license of the Ukrainian Exchange given significant regulation of its operations by a resident of Russia, recognized by Ukraine as an aggressor country.