Author Topic: Stocks and Equity Investments in Ukraine  (Read 726 times)

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Offline David Rochlin

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Stocks and Equity Investments in Ukraine
« on: 18:03 26-Aug-2018 »
Just opening a thread to discuss investment, but not starting a business.  This is about buying stock on the bourse or similar.  A few Ukrainian stocks, big agriculture, metals or Utilities, are even traded on global exchanges.
I am not sure that Ukraine is appropriate for me, mostly, but I am interested, looking into investments in equities.   I like very undervalued stocks, especially REITS or equities with some sort of moat, not overly complicated business, with high dividends and low payout ratios. I am not primarily looking for growth like most frontier investors.   Stocks that combine all of these characteristics are kind of rare in Ukraine.  This sort of topic has been discussed before, but I think it may have been years.


Offline AlexMc

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Re: Stocks and Equity Investments in Ukraine
« Reply #1 on: 10:55 14-Sep-2018 »
The country does not have a functioning stock market.  No surprise that no one responded to this post.   The only investments possible here is private equity projects or short-term deposits, or buying local T-bills (OVDP) which are also available in USD. 

Offline David Rochlin

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Re: Stocks and Equity Investments in Ukraine
« Reply #2 on: 20:42 14-Sep-2018 »
The country does not have a functioning stock market.  No surprise that no one responded to this post.   The only investments possible here is private equity projects or short-term deposits, or buying local T-bills (OVDP) which are also available in USD.

I was trying to look at equities on a couple Ukrainian stock markets with websites and it does seem like only a few are traded at all, and infrequently.  A couple banks, utilities and one oil and service station company were all I saw.  Most of them seem to ignore conventions, like publishing financial reports, yearly. 
A few Ukrainian stocks are traded internationally, too, though. 
  It did seem like there was a semblance of a liquid market before the financial crisis and the war.  I was looking at investments then too, but I don't want to pay some frontier or emerging market premium for growth.  low Price/Cash flow, discount to NAV, and a big dividend are more important to me.

Offline AlexMc

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Re: Stocks and Equity Investments in Ukraine
« Reply #3 on: 11:42 27-Sep-2018 »
Short-Term (3 months) local government bonds bring circa 18% yield in UAH, how can a stock market complete with the government with such returns. 

Offline David Rochlin

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Re: Stocks and Equity Investments in Ukraine
« Reply #4 on: 12:08 27-Sep-2018 »
Short-Term (3 months) local government bonds bring circa 18% yield in UAH, how can a stock market complete with the government with such returns.


I recently bought some stock in a mostly Argentine REIT that is traded on the NYSE:
https://seekingalpha.com/symbol/IRCP
Argentina has a viable stock market and somehow even graduated from frontier market to emerging market, although, somwhat ironically, the currency suffered a major collapse the following week.   In this particular case, because of a decades long tradition of financial instability in Argentina, companies manage to compete with ridiculous inflation and interest rates, by having escalator clauses in leases that constantly adjust rent.