Nasdaq Signs Partnership Deal with Ukraine, Offers to Waive Listing Fees
Partnership Agreement to Support Ukrainian Capital Markets
Exchange operator Nasdaq sealed a partnership deal with the Ukrainian government on Monday to aid the development of Ukrainian capital markets, the U.S. Agency for International Development (USAID) and Nasdaq affirmed. The memorandum of understanding between USAID and Nasdaq outlined the provision of technical support to the Ukrainian government as it prepares to launch a new International Finance Center and develops its capital market.
Improvement of Ukrainian Capital Markets
Nasdaq’s partnership with the Government of Ukraine demonstrates the country’s openness to business, USAID Administrator Samantha Power remarked. Foreign investors have displayed confidence in Ukraine’s prospects, with approximately $4.1 billion in foreign direct investment entering the country in the first three quarters of 2023. The agreement aims to bolster investment opportunities in Ukraine and advance its economic recovery.
Nasdaq’s Commitment to Ukrainian Markets
Ed Knight, Nasdaq’s executive vice chairman, expressed optimism about the new collaboration. Nasdaq will provide advisory services to the Ukrainian government on the regulatory and governance practices of public companies, as well as offer support for Ukrainian companies contemplating listings on Nasdaq’s U.S. and European markets. Additionally, Nasdaq intends to waive listing fees for Ukrainian companies, subject to regulatory approvals.
Nasdaq’s Support for Economic Opportunities
First Deputy Prime Minister of Ukraine, Yulia Svyrydenko, views Nasdaq’s expertise and technologies as essential tools for securing long-term financing for Ukrainian companies and nurturing organized markets. The move is expected to fortify Ukraine’s economy, create equal opportunities, and maximize its economic potential. USAID emphasized the significance of the partnership, emphasizing its efforts to enhance Ukraine’s self-sufficiency and foster robust growth in line with Euro-Atlantic institutions.
USAID’s Contribution to Ukrainian Development
As part of its activities, USAID has facilitated various initiatives to address needs in Ukraine such as arranging the donation of laptops and software for students and teachers, and drones to aid in the detection and documentation of war crimes. The agency has also collaborated with the private sector to support Ukrainian grain production and export, attracting over $250 million in investments.
