Sale Of 11% Of MZVM Postponed.

Though the company has made no public announcement, we have received information that the State Property Fund has postponed the sale of 11% in Mariupol Heavy Machinery (MZVM: BUY), the last directly state-owned stake in the company. However, the state still has 50%+1 stake in the company through its ownership of Azovmash, a holding company for MZVM. The sale had been scheduled to take place on March 29 on the Donetsk Stock Exchange. The formal reason for the postponement is the SPF’s revaluation of the starting value of the stake.