NEW YORK, Feb. 12, 2024 (GLOBE NEWSWIRE) -- Nasdaq and the Ministry of Economy of Ukraine today announced the signing of a Memorandum of Understanding (MoU) to support Ukraine's efforts to strengthen its economy and capital markets.
As a part of the agreement, Nasdaq and the Ministry of Economy of Ukraine will identify areas of collaboration that can advance the restoration and recovery of Ukraine's economy throughout the country's reconstruction process. This will include identifying ways in which both parties can provide technical assistance for the forthcoming international finance center in Ukraine, promote entrepreneurism among Ukrainian citizens, and facilitate capital formation for Ukrainian companies.
Nasdaq also intends to waive listing fees for Ukrainian companies listing on Nasdaq's U.S. and European markets. The fee waiver is subject to regulatory approvals.
It will take a concerted global effort from both the public and private sectors to support the rebuilding of Ukraine's economy, and this agreement is a first step to a deeper partnership between Nasdaq and Ukraine, said Ed Knight, Executive Vice Chairman, Nasdaq. Nasdaq has a long history of working closely with finance centers across the global economy to enable capital formation, spur innovation, and unlock economic progress. We look forward to continued discussions with the Government of Ukraine as we identify solutions that accelerate economic opportunities for Ukrainian citizens and businesses.
The expertise and technologies of Nasdaq are important tools for attracting long-term financing for Ukrainian companies and developing organized markets. We are sincerely grateful to our U.S. partners for their systematic efforts to strengthen Ukraine's economic capacity. Our goal this year is to become more economically self-reliant, and cooperation with Nasdaq is an opportunity to make our economy more resilient, create more equal opportunities, and realize our economic potential to the fullest," said Yulia Svyrydenko, First Deputy Prime Minister and Minister of the Economy of Ukraine.
The United States Agency for International Development (USAID) facilitated the partnership by helping match Ukraine's need for technical assistance and capital formation with Nasdaq's unique capability and expertise to provide this support to Ukraine.
"This new partnership between Nasdaq and the Government of Ukraine demonstrates that Ukraine is open for business, even as they continue to fight for their freedom. Investors are already demonstrating their confidence in Ukraine's future “ which attracted more than $4 billion in foreign direct investment in the first three quarters of last year “ and this partnership further underscores the attractive investment opportunities Ukraine offers. We welcome Nasdaq's commitment to support the development of Ukrainian capital markets, which will be critical in the recovery effort," said USAID Administrator Samantha Power.
About Nasdaq:
Nasdaq (Nasdaq: NDAQ) is a leading global technology company serving corporate clients, investment managers, banks, brokers, and exchange operators as they navigate and interact with the global capital markets and the broader financial system. We aspire to deliver world-leading platforms that improve the liquidity, transparency, and integrity of the global economy. Our diverse offering of data, analytics, software, exchange capabilities, and client-centric services enables clients to optimize and execute their business vision with confidence. To learn more about the company, technology solutions, and career opportunities, visit us on LinkedIn, on X @Nasdaq, or at www.nasdaq.com.
Cautionary Note Regarding Forward-Looking Statements: The matters described this communication contain forward-looking statements that are made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements regarding actions Nasdaq intends to take under the MOU. We caution that these statements are not guarantees of future performance. Actual results may differ materially from those expressed or implied in the forward-looking statements. Forward-looking statements involve a number of risks, uncertainties or other factors beyond Nasdaq's control. These factors include, but are not limited to factors detailed in Nasdaq's Annual Report on Form 10-K and its other periodic reports filed with the U.S. Securities and Exchange Commission. We undertake no obligation to release any revisions to any forward-looking statements.
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