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ICU sells Ukrtelecom shares at rock-bottom prices

The capitalization of the company is slightly over 83 million dollars
13:18, 12 February 2018

Open source

The Investment Capital Ukraine (ICU) at the request of the Individuals' Deposit Guarantee Fund sold a stake of 4.45 million shares in PJSC Ukrtelecom for 0.1215 UAH per share, totaling around 20,000 dollars. This was reported by Interfax-Ukraine agency.

ICU said last week that the shares were sold at an open auction on the Ukrainian Exchange. The shares were on the balance sheet of Forum Bank undergoing liquidation.

The price of the stake grew by 43% during the auction from the starting price of 14,000 dollars.

The total number of shares issued by Ukrtelecom is 18.726 billion. The capitalization of the company, taking into account the price of 0.1215 UAH per share, is slightly over 83 million dollars.

Related: State Property Fund expects Prosecutor to support return of Ukrtelecom shares to state ownership

As we know, in early 2011, the State Property Fund sold Ukrtelecom for 378 million dollars to ESU ltd., - the Ukrainian subsidiary of the Austrian EPIC, which in its turn belonged to five individuals - residents of Austria. Two years later, on June 3, 2013, SCM's group Rinat Akhmetov bought a company that owns the shares of Ukrtelecom.

As it was reported earlier mass rally took place near London residence of Rinat Akhmetov on March 12, 2017. London Euromaidan activists organized and participated in it. 

Activists said British special forces must check whether Akhmetov finances occupants’ army with money from his businesses. If there is an evidence of such facts, they must impose sanctions, including property confiscation in favor of Ukraine. 

Civil movement acts together with trade blockade headquarters, trade union of Burshtyn TES and All-Ukraine Independent Trade Union “Rivnist”, says the statement on Facebook page of London Euromaidan. The protesters were near Akhmetov’s house at the address One Hyde Park, 100 Knightsbridge.

Related: Khoroshkovsky was real beneficiary of EPIC during Ukrtelecom privatization – SCM

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