Ukrainian stock exchanges will be able to run an initial public offering (IPO) no earlier than 2016, Kreston GCG managing partner Serhiy Atamas has said.

He noted that the probability of launching an IPO in the next few years remains very low.

"When placing, the biggest challenge for the IPO is not the issuer, but those investors who are willing to buy. In Ukraine, there are actually no such investors. The practice is not as developed as in Europe," he said. "Five years, I think, it's a more sensible term for such works," Atamas added.

In his turn, Renaissance Capital Vice President Kostiantyn Holovin said that the outdated legislation in the field of accounting is a problem for companies preparing to enter the IPO.

"Yet not all Ukrainian companies operate according to international financial reporting standards. Anyway, the companies publish the Ukrainian and international reporting in parallel. In any case, this will create difficulties for placement abroad, in particular at Warsaw Stock Exchange. The issue takes time and additional financial costs," he said.

UKRINFORM