SPF sets starting price for Lvivoblenergo privatization

The State Property Fund of Ukraine has set a starting price for privatization of a 26.98% stake in Lvivoblenergo (LVON) at UAH 171.7 mln (or UAH 3.28 per share, and 3.6% below our forecasts). The stake is scheduled to be sold at Innex Stock Exchange tomorrow. Alexander Paraschiy: As we wrote in our privatization note of April 22, LVON’s EV/S multiple based on its starting price is likely to be the lowest among six privatizing Oblenergos. Still, if there is no interest from portfolio investors, LVON’s auction is highly likely to be postponed tomorrow, as it was with stakes of PREN and POON last week.