Nasdaq signs partnership agreement with Ukraine and offers to waive listing fees

The American stock market operator Nasdaq has signed a partnership with the Ukrainian Government aimed at supporting the development of the capital market in Ukraine, the US Agency for International Development (USAID) announced on Monday.

Nasdaq logo photo

Nasdaq will help develop the Ukrainian capital market Photo: Shutterstock

USAID, which previously helped Ukraine connect foreign investors and Ukrainian companies, stated that the memorandum of understanding provides that Nasdaq will provide technical assistance to the Ukrainian Government, as it prepares to open a new International Financial Center and develops the market of capital of Ukraine, reports Reuters.

This new partnership between Nasdaq and the Ukrainian Government proves that Ukraine is “open for business”, even if it is still fighting for its freedom“, USAID Administrator Samantha Power said. According to her, investors have demonstrated their confidence in Ukraine’s future, with approximately $4.1 billion worth of foreign direct investment flowing into the country in the first three quarters of 2023.

The memorandum of understanding was signed online on Monday by Nasdaq Vice President Ed Knight and Ukrainian First Deputy Prime Minister Yulia Svyrydenko, a USAID spokesperson said. According to the agreement, Nasdaq will advise the Ukrainian Government on regulations and governance practices for state-owned companies, promote entrepreneurship among Ukrainians through workshops and trainings, and also encourage capital formation among Ukrainian companies, including providing education on and assistance with listing on the Nasdaq markets in the US and Europe.

This deal could pave the way for future listings of Ukrainian companies on US and European stock exchanges, but that will require separate approvals from US regulators.

USAID helped facilitate the agreement by working with the private sector to address needs in Ukraine. It previously helped broker the donation of laptops and software for Ukrainian students and teachers by major American companies, as well as the donation of drones to help Ukraine detect and document war crimes.

USAID also works with the private sector to support Ukrainian grain production and export, and to date has mobilized more than $250 million in agricultural partnerships with the private sector, including investments in seed production.

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