About Research

An integral part of Dragon Capital since its founding in 2000, Dragon’s research department continues to underpin the company’s leadership on the Ukrainian market. We are proud to be the oldest research team in Ukraine and a leading adviser on the country’s business environment and investment climate. Each Dragon Capital analyst continues to work hard to provide top-quality independent research and valuable trade ideas to the company’s clients.

The oldest and most experienced research team in Ukraine

Dragon Capital was the first investment bank to start comprehensive coverage of Ukrainian equities after the regional financial crisis in 1998, helping resurrect foreign investor interest towards the country. Our research team provides comprehensive coverage on Ukrainian macroeconomics and politics as well as all major domestic industries such as metals and mining, agriculture, machine-building, fuel and energy, banking and others from both the equities and fixed income perspectives. We issue our analytical publications to institutional and retail clients in both English and Russian.


Strong local expertise and proprietary contacts as opposed to foreign competition

Having developed strong knowledge of the local market and a proprietary network of high-level contacts over years, Dragon offers insight and analysis with which local and foreign-based competitors struggle to compete. In the Ukrainian business environment local expertise is arguably the most important factor of successful investment.

Stocks under coverage comprise virtually all traded universe

Our coverage universe encompasses all actively traded Ukrainian stocks and bonds, listed domestically (Ukrainian Exchange) and on foreign exchanges (in London, Frankfurt, Vienna and Warsaw) as well as traded over-the-counter.

Prolific output

In 2013, we published over 1,000 macroeconomic, political, fixed-income, sector and company research reports. Our reports range from the extensive annual equity and bond investment guide to regular strategy reports, company-specific notes, macroeconomic overviews, political updates and other reports, helping our clients to sharpen their understanding of the Ukrainian economy and its political ins and outs while identifying attractive investment opportunities among traded stocks and bonds.




Generating new ideas

Dragon analysts have successfully gone beyond long-established blue chip stocks to lead the value search among less liquid 2nd and 3rd tier names.

Post-placement support

Dragon Capital has completed more than 100 capital-raising, advisory and M&A deals since its founding and has raised over $5bn in new capital, more than any other investment bank in Ukraine. We follow each new Ukrainian firm going public on foreign or domestic exchanges provided that we consider it a worthy opportunity for our clients.

Top expert on Ukraine

Apart from pure equity and fixed income research, we have gained a sterling reputation as one of Ukraine’s leading experts on the domestic economy and capital markets, contributing forecasts and opinions to the government, international financial organizations present in Ukraine, global rating agencies and foreign and domestic media. We are the most frequently quoted investment bank in the Ukrainian business press. In addition, each year we work in tandem with a leading Ukrainian newsmagazine to help it publish a ranking of the wealthiest Ukrainian individuals as well as overviews of the banking and agricultural sectors.