Regulator considers dual listings for foreign-listed Ukraine names

Ukraine’s Securities and Stock Market Commission has approved a framework concept that may allow internationally listed, Ukraine-based companies to seek a secondary listing on a Ukrainian bourse. According to the document, the NBU would need to institute a broad set of instruments aimed at minimizing capital flight from Ukraine related to trading in stocks with a dual listing. The document would also restrict the secondary listing option only to more liquid foreign-listed stocks. While the move looks like a step in the right direction and one that could help breathe life back into the shrinking domestic stock market, there is little clarity on subsequent steps and the timing of potential legislation.