Sumyoblenergo June 14 auction details announced
12 July 2010
The State Property Fund of Ukraine announced details for the privatization auction of Sumyoblenergo on June 14. As with last week’s Poltavaoblenergo (UX: POON UK) sale, the SPF will sell the 25% stake in lots: 25 (14 lots of 1.02% stake and 1 lot of 0.61% stake) for a starting price of UAH 2.44 per share. Yegor Samusenko: This starting price implies valuation at 0.25n on EV/RAB (Russian peer median of 0.46x) and 4.3x on EV/EBITDA ‘11E (Russian peer median of 4.9x), according to our estimates.
