OREANDA-NEWS. During the 9th Annual Investor Conference Dragon Capital hosted a ceremony recognizing the companies with the best level of corporate governance in Ukraine.

The results were based on the votes of Dragon Capital’s institutional clients. More than 100 representatives of international hedge funds, investment funds and asset managers investing in Ukraine took part in the poll.

Investors assessed the quality of corporate governance, including transparency of corporate decision-making, the quality of financial reporting, and the willingness of management to communicate with minority shareholders and bondholders, as well as the quality of investor relations departments.

"The level of compliance of the corporate governance with international standards is an increasingly important factor in the purchasing decisions of the company’s securities, - says Tomas Fiala, CEO of Dragon Capital. – This year results show that foreign investors still appreciate the openness of the companies as well as the timeliness and quality of reporting. We congratulate MHP, Astarta and DTEK with recognition and believe that other Ukrainian companies will follow their example in the routine of business."

MHP was the undisputed leader in the category "Best Corporate Governance in Ukraine". Shares of one of the largest Ukrainian agricultural holdings have been traded on the London Stock Exchange since 2008 (MHPC: LI). During the initial public offering (IPO) in May 2008 the company raised approximately USD 370m for 22.32% of its shares, and in December 2010 it conducted a secondary public offering (SPO) raising USD 188.6m. In addition, MHP has USD 585m of outstanding Eurobonds.

DTEK, the largest private energy holding in Ukraine, won in the category "Best Corporate Governance Among Ukrainian Bond Issuers". In 2010 the company placed USD 500m of Eurobonds maturing in 2015.

Astarta won the first place in the category "Best Corporate Governance Among Ukrainian Equity Issuers". In 2006, the largest sugar producer in Ukraine raised approximately USD 32m during its initial public offering on the Warsaw Stock Exchange (AST: PW). At present, the company’s free float is 37% and the market capitalization of the holding is about USD 500m.