SPF To Place 37.86% of Ukrtelecom On The LSE

According to Valentina Semeniuk, Head of State Property Fund (SPF), the fund is preparing to conduct an IPO of Ukrtelecom (UTEL: HOLD) on the London Stock Exchange. In addition, 5% of the company is scheduled to be sold at a local stock exchange in May-June 2007 in 0.5% blocks (blocks of 1% were considered previously). Alexander Paraschiy: The timing of UTEL’s placement in London is not clear yet, and there is a chance that the SPF will not complete preparation for this placement by the end of 2007. In addition, it looks like the SPF has not come up with a clear strategy for the local placements as information on timing and volume of the placements has changed over the last month. Don’t be surprised to see the SPF changes its plans again before this is all said and done.