Authorization

Ukrainian state postal operator Ukrposhta becomes PJSC with charter capital of UAH 6.5 bn

Ukrainian state postal operator Ukrposhta becomes PJSC with charter capital of UAH 6.5 bnUkrainian Infrastructure Minister Volodymyr Omelyan has signed an order on the creation of public joint-stock company Ukrposhta on the basis of Ukrainian state-run postal enterprise and approved the company's regulations.

"The reorganisation into a joint-stock company is a tool for creating a modern and transparent corporate management system that would help to provide for the implementation of long-term strategic plans and attract international lenders to develop the company. Our goal is to return the leading positions of Ukrposhta on the postal and logistics market and make it a modern client-oriented company," Ukrposhta Director General Ihor Smeliansky said.

Ukrposhta said in a press release that the state in the person of the ministry is the founder and only shareholder of the public joint-stock company. Infrastructure Ministry manages corporate rights of the state with 6.518 million shares (UAH 1,000 each).

Omelyan said that soon an independent supervisory board will be created.

As reported, PJSC Ukrposhta will start operating on March 1, 2017.

Ukrposhta is managed by Infrastructure Ministry. It provides over 50 types of services in almost 12,000 departments all over Ukraine.
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