Transactions in securities and the assets of professional stock market participants in Ukraine are regulated by the National Securities and Stock Market Commission (NSSMC) — and many of its procedures require an independent valuation.
The Kanzas company prepares valuation reports for procedures subject to NSSMC approval or disclosure. 20+ years of experience with securities and corporate rights.
When an NSSMC valuation is required
- share issues and placements — valuing property contributed in payment;
- squeeze-out and sell-out procedures — mandatory fair value share valuations;
- issuer disclosure and reporting;
- transactions of collective investment institutions with their assets;
- reorganisations of joint-stock companies.
Squeeze-out and sell-out: the difference in one line
Both procedures exist under the Law of Ukraine "On Joint-Stock Companies" No. 2465-IX and apply where a dominant control block (95%+) has formed. The difference is the initiator: in a squeeze-out, the majority shareholder compels the minorities to sell; in a sell-out, a minority shareholder compels the majority owner to buy them out. In both, the central question is the fair value of the shares — determined by an independent valuation. In detail: share valuation for squeeze-out procedures.
The double filter: NSSMC requirements and SPFU review
A valuation report is a mandatory part of the document package filed with the Commission. Since the NSSMC does not itself assess report quality, an established practice applies: every report submitted to the NSSMC is sent for review to the State Property Fund of Ukraine. A report must therefore pass a double filter — the Commission's regulatory requirements and the SPFU's professional review. The Kanzas company's reports have passed this review; an error here means a halted procedure, which is why experience with this specific track is decisive.
Valuing collective investment institution assets: businesses in Ukraine and abroad
A distinct practice area is valuation for transactions of collective investment institutions. In such projects we have valued the businesses of companies not only in Ukraine but also their units abroad. The Kanzas company has valued businesses in most European Union countries and knows how to analyse markets across Europe. IVS-compliant reports in English: valuations for foreign jurisdictions.
Valuation of shares, bonds and other securities as assets — separate pages in the securities valuation section.
We offer reports that pass both the Commission's requirements and SPFU review, realistic timelines and an individual approach to each issuer's task. Write to us by email or messenger — we will discuss your procedure.
FAQ
Does the NSSMC approve the report itself? The Commission reviews the procedure's document package; the report itself is reviewed by the SPFU.
How do squeeze-out and sell-out differ? By initiator: the majority shareholder initiates a squeeze-out, a minority shareholder initiates a sell-out; both require a fair value valuation.
Do you value foreign assets of collective investment institutions? Yes — we have valued businesses in most EU countries.
