The State Commission on Securities and Stock Market and the Hong Kong Stock Exchange have agreed on mutual understanding and cooperation, as well as on signing the relevant memorandum.

According to a statement by the State Commission, "when in Hong Kong, a delegation of the Securities Commission held a working meeting with the leadership of Hong Kong Stock Exchange (HKSE). The parties agreed that a working group will be set up to prepare the text of a memorandum of understanding."

The parties also agreed to exchange information about the issuers (primarily listed companies), mutual protection of investors' rights, procedures for cross-listing and delisting.

According to Securities Commission Chairman Dmytro Tevelev, work with the Hong Kong Stock Exchange is promising for the development of the Ukrainian stock market, as by the number of IPO the HKSE took the top place in the world.

"Ukrainian companies need significant investments for modernization, and for them it is a good opportunity. And we as a regulator, in turn, will try to create conditions to facilitate capital raising by means of stock market instruments," Tevelev said.

According to the Securities Commission, the Hong Kong Stock Exchange is interested in cooperation with Ukrainian companies in the mining, metallurgical and chemical industries, as well as agriculture.

As UKRINFORM reported, in September, President Viktor Yanukovych, during his visit to China, expressed the interest of Ukraine in cooperation with the Hong Kong Stock Exchange.

UKRINFORM