Number of joint-stock companies drops by 4.5% in 2010 on adoption of law on joint-stock companies, says SCSSM

Kyiv, February 2 (Interfax-Ukraine) – The number of registered joint-stock companies in 2010 fell by 4.5%, to 28,620, compared to 29,910 in 2009.

According to documents released by the State Commission for Securities and the Stock Market of Ukraine (SCSSM) at a press conference at Interfax-Ukraine on Tuesday, the downward trend is linked to the law on joint-stock companies passed in 2010.

The number of open joint-stock companies in 2010 fell from 9,580 to 9,580, and the number of closed joint-stock companies came to 19,400, compared to 20,330 in 2009.

The commission head, Dmytro Tevelev, said at the press conference that the regulator is paying particular attention to the problem of "trash shares."

He said that the commission had refused to register issues of "technical shares" worth UAH 10.5 billion.

As reported, the law on joint-stock companies says that Ukraine has joint-stock companies of two types: private and public. All joint-stock companies are to bring their regulations in line with the law by April 29, 2011.