Government To Sell Its Stake In MZVM.

The government announced plans to sell 11% stake of Mariupol Heavy Machinery (MZVM: BUY). This is the only remaining stake in the company, directly controlled by the State Property Fund (SPF).  A 50%+1 still belongs to MZVM?s managing company, Azovmash, which is controlled by the SPF, with operational control of SCM-related companies. An expected increase in free float and more transparency in financial reporting which started to materialize in the company’s 9M05 results, back our positive stance towards the stock.