SCM Might Bid For Small Stake in Avdiyivka Coke.
10 July 2008
SCM said it is considering taking part in the auction for a 0.37% stake in Avdiyivka Coke (AVDK: BUY) to be held by the PFTS on July 26. The starting price for the block is set at $3.47/share, while the last bid and ask quotes for the stock were $2.89 and $3.70, respectively. SCM owns 65% in AVDK and another 25% is owned by its partner ARS. Andriy Gostik: SCM will likely have to compete for the stake with portfolio investors but we do not think the final price will be much higher than the $3.47 starting price.
