SPF sells Prykarpatoblenergo stake for USD 10.9 mln

Yesterday Ukraine’s State Property Fund sold the government’s 25% stake in Prykarpatoblenergo (UX: PREN UK) for UAH 86.3 mln (USD 10.9 mln), or UAH 3.33 per share (USD 0.42). The stake was sold as one block at the starting price. Yegor Samusenko: Given that the sale price for the Prykarpatoblenergo stake was the lowest of the three Oblenergo auctions this summer (valuation of 0.21x on EV/RAB), we expect the SPF to put stakes in Poltavaoblenergo (UX: POON UK) and Sumyoblenergo back up for sale at lower prices.