Ukraine’s National Electronic Exchange to sell assets seized by watchdog ARMA

The Asset Management and Tracing Agency (ARMA) has selected a second e-commerce market operator to sell seized assets.

This was reported by the ARMA press service, Ukrinform saw.

"According to the competitive selection of a legal entity that is entitled to provide services for the organization and conduct of electronic trading of seized assets, ARMA chose the second seller of seized assets - LLC National Electronic Exchange - and concluded the relevant contract," the statement says.

Oleksiy Tamozhanskyi, head of the Agency’s asset management department noted that the company selected had been operating since 2014, being one of the leaders among the operators of Ukraine’s e-commerce market. The total amount of sales through the electronic trading platform amounted to almost UAH 7 billion, which puts the company in the top spot in the Prozorro.Sales system by the volume of assets sold.

ARMA recalled that at the beginning of 2023, a contract was concluded for the provision of services for electronic auctions of seized assets with Prydniprovye 2021 LLC.

Cooperation with the two sellers will allow the Agency to expand opportunities for the sale of seized assets.

As reported, for 2022, thanks to the management of seized assets, ARMA transferred UAH 1.2 billion to the state budget. The total value of the assets, the preservation of which was ensured by the Agency last year, stood at about UAH 7.2 billion. In January 2023, the Agency located assets subject to seizure worth more than UAH 1.4 billion.