Ukrposhta Becomes Joint-Stock Company

02 March 2017 17:20

The Ukrposhta state postal enterprise completed the process of its reorganization into a public joint-stock company on 1 March. The company is now registered as a public joint-stock company and not a state enterprise.

In accordance with an order issued by the Ukrainian minister of infrastructure, the Ukrposhta public joint-stock company is the legal successor of the Ukrposhta state postal enterprise. Creation and approval of the company’s supervisory board is expected in the near future.

"The transformation of Ukrposhta into a public joint-stock company is an important step for the company. This procedure will allow creation of a new model of transparent, efficient state-owned company, attract international investment in its development, and, consequently, significantly improve the quality of its operations to meet basic customer requirements," Ukrposhta’s head Ihor Smelianskyi said. Smelianskyi became the acting general director of Ukrposhta on 1 March.

The state owns 100% of the company's shares through the Ministry of Infrastructure. Ukrposhta is on the list of the country's strategic enterprises.

As reported, the transformation of the Ukrainian Railways company into a public joint-stock company was completed in December 2015.