Small Kievoblenergo Stake Comes to Market.

One of the minority shareholders in AES Kievoblenergo (KOEN), has received permission to sell its stake on the market after AES, which has first-purchase rights because KOEN is a closed-shareholder company, refused to buy the stake. The company Asprin has 0.17% of KOEN for which it asked 1 UAH per share ($0.20, which would imply a market capitalization of $200m). AES said the price was too high. Alexander Paraschiy: We value KOEN at about $0.10 per share, so we agree the price is much too high. AES bought its controlling stake in KOEN in a 2001 tender for $0.06/share. In early 2004, AES agreed to buy out KOEN minorities for about $0.05/share.