Concorde Capital returned to the corporate governance scene in October 2011 with updated ratings of practices at listed Ukrainian companies, targeted at foreign investors active in Ukrainian equities. Our first report in February 2007 received rave reviews from investors, lawmakers and the companies themselves, and an update was released in May 2008. The overwhelming interest in this topic led us to put together this webpage to inform and educate local companies about the importance and benefits of strong corporate governance practices and assist in implementing them in their own companies.
Concorde Capital presents its second survey of information openness and invertor friendliness of webises of Ukrainian securities issuers «IR-Online in Ukraine – 2013». Despite the attitude of the global investment community to Ukraine have worsened noticeably, Ukrainain companies improved, on average, their IR practices. The upholding of quality standards by Ukrainian companies leaves the chance that our securities markets sooner or later will recover.
The research team at investment bank Concorde Capital presented the results of its fourth survey of corporate governance standards and practices among Ukrainian publicly traded companies, “Corporate Governance in Ukraine – May 2013.” The goal of the research was to present stock markets players with instruments that can help them better understand corporate governance practices among Ukrainian companies in reaching well-grounded investment decisions.
This the first-ever analytical study of the websites of 100 leading Ukrainian companies, including those listed on a stock exchange (foreign and local) and those with bonds (Eurobonds and local bonds). It includes a ranking of websites by investor-friendliness. One of the key findings was that Ukrainian websites were by far more oriented toward customers than investors.
Our new report, released in both English and Russian languages, is still the only report of its kind – a comprehensive and systematic analytical study of the corporate governance practices in Ukrainian companies. This report rated 114 companies, including those listed in London, Warsaw and Frankfurt based on information from public resources, corporate publications, and top-level management. Improvement is evident – the number of top-rated companies doubled compared to 2007, while the number of lowest-rated companies was cut in half.
Concorde Capital’s second update on the corporate governance practices in Ukrainian companies. This report covered 175 companies (up from 117 in 2007), encompassing all sectors of the Ukrainian equity market, including those companies listed on foreign exchanges. Our study showed a marked improvement in the profile of public Ukrainian companies' corporate governance over the last year: the average score was 1.9 vs. 0.8 in 2007.
This is the first comprehensive study of corporate governance in Ukraine. The report found that “on the whole, Ukrainian companies are still far behind their western peers in terms of corporate development...” The average score was 0.8, which corresponded to a “Below Average” rating.
- IFC Brief Glossary of Corporate Governance Terminology (English/Russian) [Direct PDF Download]
- IFC Russian-English/English-Russian Corporate Governance Glossary [Direct PDF Download]
- OECD Principles of Corporate Governance (English) [Direct PDF Download]
- Ukrainian Securities & Exchange Commission Corporate Governance Principles (English) [Direct PDF Download]
Stock exchanges & DRs
The regulator estimates that coal costs to be covered by TPPs’ electricity rates in 2018 will be 20.2% higher than those covered in 2017... The key risk now is that the NERC won’t be able to approve this draft regulation by the end of this year...
Most likely, the placement was aimed at accumulating foreign currency to repay USD 271 mln in local Eurobonds due today. If so, the goal has not been reached...
In any case, higher EU-based capacities will help the company to compensate the low poultry import quota...
Preliminary Economic Assessment for its Shymanivske iron ore project in Ukraine yields an NPV of USD 1.7 bln...