Odesakabel initiates 9.5% share buyback

Odesakabel (OCAB) shareholders decided at an AGM on August 4 to buyback a 9.5% stake in the company (5.32 mln ordinary shares). The company plans to buy out the shares at no more than UAH 3.15 each, between September 10-15. Yegor Samusenko: The stock is illiquid: no trades have been registered over the last year on either the PFTS or Frankfurt Stock Exchange. If Odeskabel offers UAH 3.15 (USD 0.4) per share, the deal seems rather fair, since it corresponds to EV/S ’09 multiple of 0.57, close to its peers’ median of 0.61.