President Volodymyr Zelenskyy has signed the law “On Peculiarities of Sale of Stakes Owned by the State in the Authorized Capital of Banks” (No. 11474), UNNreports.
As previously reported by MP Yaroslav Zheleznyak, the main purpose of the document is to reduce the state's presence in the banking market.
He also spoke about the main innovations of the document:
- expands the range of potential investors to whom the state is willing to consider selling;
- allows the sale of any state share in a bank (not just 100% of the state's shares, as provided for in the current law);
- increases the requirements for legal entities that may be engaged by the state as financial advisors for sales;
- includes international donors in the selection of financial advisors for the sale and the sale itself;
- updates the rules for setting the price and conducting the auction in accordance with the World Bank's recommendations;
- takes into account the possibility that only one potential investor may participate in the auction;
- brings the requirements to the purchase and sale agreement in line with market practices;
- prevents negative influence on the sale procedure (e.g., stopping the sale) by former beneficial owners (relevant for JSC Sens Bank) or current minority shareholders (relevant for JSB UKRGASBANK).
Президент підписав закон про реформу митниці: що передбачається17.10.24, 12:35