12:54 17.11.2017

Rada passes bill on attracting investment by issuer of securities

Rada passes bill on attracting investment by issuer of securities

Ukraine's Verkhovna Rada has passed bill No. 5592-d dated April 20, 2017 amending some Ukrainian laws regarding relaxation of doing business and attraction of investment by issuers of securities.

The bill with amendments was backed by 237 lawmakers after the third attempt at the plenary session on Thursday.

"It so happens that there are thousands of legal entities in Ukraine in the form of public joint-stock companies. They are obliged to meet unnecessary requirements, because, in fact, these organizations are not public," MP Pavlo Rizanenko said during the discussion of the bill.

As he said during the discussion of the document on November 15, the bill improves articles relating to the issue, approval and publication of the securities prospectus and the validity period of the prospectus. In particular, the publication of the securities prospectus in paper form was canceled. The rules related to regular information about the issuer have been improved. The threshold of disclosure of information about owners of voting shares of private joint-stock companies was reduced from 10% to 5%.

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