Depository receipts and privatisation: Still waiting for that great leap forward

Resource type: Legal update: archive

Status: Published on 21-Jun-2000

Jurisdiction: Ukraine

The recent threat of ING Bank to hold Ukraine in default (declaring the eight-year-old nation to be insolvent) may have finally forced Ukraine into an interesting series of economic reforms, leading to a renewed effort in the privatisation of its enterprises. On 21st July, 1999, the Ukrainian Cabinet of Ministers passed a Resolution:

  • Approving the procedure for selling state-owned shares in specific open joint stock companies on international markets. An open joint stock company is similar to a publicly held corporation in the US in that their shares may be distributed through an open subscription and purchased and sold on a stock exchange.
  • Making it possible for investors to buy packets of shares from those open joint stock companies in the form of depository receipts.

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  • Resource ID: 3-101-1044
  • Published: 21-Jun-2000
  • Products:  PLC Cross-border, PLC Cross-border Quarterly, PLC Lawdepartment Global, PLC UK Finance
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  • Miscellaneous: FinanceMiscellaneous: Finance (http://publicsector.p01del.practicallaw.com/3-103-1103)
  • PrivatisationsPrivatisations (http://publicsector.p01del.practicallaw.com/9-103-1379)
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