Avdiyivka Coke Auction Fails.
27 July 2008
Yesterday’s PFTS auction for a 0.37% stake in Avdiyivka Coke (AVDK: BUY) failed due to a lack of interest. Andriy Gostik: The minimum price set by the seller, $3.47/share, was 4.2% higher than the last PFTS ask quote and 24.9% higher than the last bid quote. Portfolio investors were probably also deterred by the stock’s low liquidity. However, we think AVDK has a significant upside potential despite the market’s fears.
