SPF Privatizes 6.57% of Kryvbasvybukhprom
2 July 2008
At a privatization tender on Friday, the State Property Fund sold a 6.57% stake in Kryvbasvybukhprom to Kinto, a Kyiv-based investment company. Kinto outbid System Capital Management (holder of a 93.16% stake in Kryvbasvybukhprom) with bid of USD 0.59 per share (implied MCap of USD 57.5 mln). Kryvbasvybukhprom provides explosive services for iron ore mining. In 2006, the company increased net sales to USD 78.0 mln (+26.0% yoy), EBITDA to USD 13.3 mln (+50.2% yoy), and net income to USD 8.0 mln (+61.1% yoy).
