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Ukraine sells 5% of Motor-Sich

Only modest funds raised

Published: 7/11/2000

The State Property Fund of Ukraine has finally sold 5% of its holding in Zaporozhye-based Motor Sich, through a placement on the Kiev Stock Exchange. While bidding prices started at Hr18.14 ($3.36) per share, the shares were sold at Hr 40.14 ($7.43) per share bringing the State Property Fund proceeds of a modest $772,330.74. The State Property Fund intends to sell the balance of the holding, a further 20% of the engine maker, through a tender at the end of 2000. Prior to this transaction, the State Property Fund had disposed of 33.86% of its Motor Sich holding through a variety means including tenders, privatisation certificates and sales through the exchange.

Article ID: 1921

 

 

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