The founder of Inzhur opens a new stock exchange in Ukraine: can it revive the market?

The founder of the Ukrainian REIT company Andriy Zhurzhiy announced the creation of a new stock exchange called the “Ukrainian Stock Exchange Inzhur.” The exchange aims to be a platform for Ukrainian investors, replacing foreign platforms.

On November 5, 2025, Andriy Zhurzhiy registered a company that aims to direct investments to the domestic market. However, for a full-fledged launch, the exchange still needs to receive a license from the National Securities and Stock Market Commission. Zhurzhiy emphasizes that none of the existing exchanges have become an effective platform for attracting capital through the placement of securities. His company Inzhur already unites 40,000 investors and manages assets worth over $100 million, and by the summer of 2026, it plans to double these figures.

The idea of creating a new exchange causes concern among experts due to the unstable situation in the country’s stock market. Artem Shcherbyna emphasizes the need for significant investments in software and market trust. According to Andriy Shevchyshyn, the new exchange should become a platform for business investments, as the market currently mainly revolves around government securities.

At the same time, Ukrainian companies continue to choose foreign exchanges for IPOs due to the lack of a developed domestic market. Among notable examples are companies Astarta and Kernel, which have listed their shares on the Warsaw Stock Exchange. As for the domestic market, the main component remains the trade of government bonds (OVDP).

Zhurzhiy, the founder of Inzhur, is confident in his ability to reboot the Ukrainian stock market, relying on the successes of his company, which specializes in investments and asset management. Despite the cautious optimism of experts, the initiative could become the key to developing the domestic securities market in Ukraine.