Page 63 - UKRRptSept22

market is much higher, and measures in the millions.
All restrictions on the Ukrainian Stock Market will be lifted. The National Security and Stock Market Commission has decided to cancel almost all restrictions imposed on February 8 on capital markets and organised commodity markets beginning August 8. The commission reported that restrictions on the activity of exchanges were introduced in the first hours of the Russian invasion. The regulator said that this was done to prevent panic actions that could collapse the markets and eliminate the possibility of their future operation, as well as to preserve data and property rights. Then, freezing the markets made it possible to find assets related to Russia and Belarus and limited the ability of those companies to do business in Ukraine. "The step to unblock the capital and commodity markets is timely and balanced because market participants have confirmed their readiness to develop the financial sector," Prime Minister Denys Shmyhal said.
The Ukrainian stock market resumes trading after an almost six-month hiatus. The index of the Ukrainian Stock Exchange, which has not been traded since February 24, changed for the first time since the war began. By the market’s close, the index had decreased by only 0.64% to 1707.43. Since February 23, the UX index has been frozen at 1718.5. However, after the National Commission on Securities and the Stock Market allowed practically free circulation of Ukrainian shares and bonds on August 8, trading on the stock exchange resumed. In the index basket, only the offer on Raiffeisen Bank changed, the price of which fell by 5.75%, but there were no deals. Quotations of Motor Sich, Ukrnafta, Centrenergo, Myronivskyi Hliboprodukt, Ukrenergomachine, and Donbasenergo also remained unchanged. On August 8, Ukrnafta shares fell by 2.43%, but there were no deals either.
Holders of Ukraine's GDP warrants approved restructuring proposal.
Holders of 91% of the notional value of GDP warrants in circulation have approved Ukraine's proposal to postpone payments and revise their terms. It is noted that holders of approximately 93% of the notional value of GDP warrants were represented at the meeting regarding the issue’s approval. The necessary quorum was reached, and Ukraine received the required consent for the extraordinary decision, the stock exchange reported. These results are preliminary, and the final decision will be announced after an August 10 meeting. The proposal to postpone Eurobond payments of the country and state-owned companies under state guarantees will also be considered at the next meeting. The restructuring of these payments requires the support of more than 2/3 of the Eurobond holders of all issues and more than 50% of each issue.
63 UKRAINE Country Report September 2022 www.intellinews.com