Major Chinese investor has bought a “dead” Ukrainian state Bank

Major Chinese investor has bought a “dead” Ukrainian state Bank

© Ubrr

The application form for participation in auction have submitted only one buyer.

Today, 30 November, took place the sale of 99.9% of shares of state-owned “Ukrainian Bank of reconstruction and development”.

The application is filed by only one buyer – a Chinese company Bohai Commodity Exchange Co., Ltd. (BOCE). So the Bank sold at a starting price of 82 million 827 thousand UAH. It is reported, the state property Fund of Ukraine.

BOCE is the largest spot commodity exchange in China with an annual turnover of 1 trillion US dollars. The company was founded in 2009 with the participation of private Chinese citizens, several government companies as well as municipality of the state of Tianjin, China.

“We are pleased to participate in the development of the Ukrainian financial market through a combination of international standards to Ukrainian traditions”, – said the head of the company Bohai Commodity Exchange Co., Ltd Yang Dong Sheng.

Recall the previous auction for the sale of UBRD held in April of this year, but then there was not a single buyer. After that, the national Bank announced plans to liquidate the Bank, if it cannot be privatised for re-auction.

A key requirement for the new investor and the replenishment of the Bank’s capital by 2.5 million UAH – to UAH 120 million to comply with the NBU.

We will remind, UBRD was created by a Cabinet 13 and a half years ago in may 2003. The state’s share in it is 99,9945%. In the ranking by size of assets the Bank “grazes the back” and occupies the last place. Has no branch. A year and a half ago consisted of three dozen employees.