16.11.2021

The NSSMC, with the aim of filling the capital market with quality instruments, improves the procedures for the public offering of securities. The members of the regulator have made such changes in the provision of the same name and urge market participants to voice their comments on the text of the document.

«Recently, the regulator has registered a number of packages – shares and bonds, which entered the market through public offering. That is, there are tools on the market; at the same time, we seek to develop the domestic capital market, in particular, to launch the second level of pension reform. That is why we are improving the situation as much as possible and at the same time bringing it into line with EU norms,» said Maksym Libanov, Commissioner, about the NSSMC’s motives.

Significant changes concern the nuances of preparation of the issue prospectus. First, it can now be served in portions. The regulator also clearly spelled out the technical requirements for this document. Secondly, it is planned that the prospectus can be built on two structures – as a universal registration document, as well as a simplified prospectus. The first provides for faster registration of the prospectus: if the issuer does it for the first time, such a procedure will take up to five days, if the third year in a row – the regulator will do it automatically, instantly. According to the regulator, the simplified prospectus will be useful for issuers from the group of small and medium enterprises. In addition, the innovations will allow issuers to submit a smaller package of documents to the NSSMC – if they have already submitted certain documents, they should not be duplicated.

The regulation also prescribes the conditions and procedure for the public offering of new securities on the capital market – option certificates and bank certificates of deposit.

«The NSSMC is ready to listen to the relevant proposals of market participants in order to simplify the document as much as possible and make it truly issuer-oriented. That is why we have already published it on the NSSMC’s website and we are waiting for feedback by December 17,» Mr. Libanov summed up.

The first meeting of the working group to discuss the document with market participants will take place on Thursday, November 25, at 10:00.

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