Ukrzaliznytsia, EBRD, Infrastructure Ministry agree to start preparing company for IPO
A memorandum of understanding between the European Bank for Reconstruction and Development (EBRD), the Ministry of Infrastructure and JSC Ukrzaliznytsia (Kyiv) regarding the preparation of the railway company for an IPO was signed during the RE:THINK. Invest in Ukraine investment forum held in Mariupol on October 29.
On the part of the EBRD, the document was signed by EBRD Managing Director for Eastern Europe and the Caucasus Matteo Patrone, on the part of the government by Minister of Infrastructure Vladyslav Krykliy, on the part of Ukrzaliznytsia by head of the company Yevhen Kravtsov.
"This is a historic moment. Ukrzaliznytsia is not only starting to move forward with its rolling stock and demonstrate better financial results. We and the EBRD also plan to make it more public and transparent. This is a historic moment when the first state-owned company announced its intention and will move towards IPO. And I really hope that soon we will see the listing of Ukrzaliznytsia shares at Bloomberg," Krykliy said.
According to him, access to an IPO will allow the company to become more transparent and investment-attractive.
Yevhen Kravtsov, in turn, emphasized that the signing of the memorandum on preparing the company for an IPO provides for increased efficiency, improved company performance, transparency, and eradication of corruption.
"Thanks to the IPO, we plan not only to raise several billion dollars over the next two to three years, but also bring Ukrzaliznytsia to first places among the world's transport companies," he said.