FLEXIBILITY DEFICIT

After a long break operators continued securities trading. Although the results equalled zero, a certain progress has been achieved in the field. Stocks of energy distributors like Cherkasyoblenergo, Kyivenergo, Kyivoblenergo and Zhytomyroblenergo were offered for sale. No agreements were signed due to the high prices. A broker's seat at the exchange was bought. The trade volume totaled Hr 1,500.

Ukrainian Interbank Currency Exchange

The regular bidding took place on stocks in firms still held by the state. Operators ignored them, though the State Property Fund had a number of interesting offers. The shares packages of energy distributor Zakarpattiaoblenergo were again offered for sale. Its extremely high starting price of Hr 0.35 per share did not cause animation. Only after the starting price fell to Hr 0.25 per share was an agreement was signed for the purchase of 100,000 shares. The fact of price reduction speaks for the flexibility of the SPF or, to be more exact, the need to bring real privatization money into state coffers. The share packages of the open stock companies Kulykivsky Ahrotechservice and Chernihivmolprom were again offered at the nominal price with no takers. Bids totaled Hr 25,000, which turns out to be the result, compared to the last week's zero.

Kyiv International Stock Exchange

The SPF offered shares in ten enterprises.The most interesting among them turned out to be open stock company Myson, open stock company Temp, and energy distributor Cherkasyoblenergo. However, only the full offering in Temp was sold at the nominal price. Cherkasyoblenergo stock were offered for doubled their nominal price - Hr 0.50 per share, when at at non-exchange market the price was Hr 0.35-0.40 per share. Probably there is a point in waiting until the SPF becomes more flexible on Cherkasyoblenergo stock prices. Last week the starting price was Hr 0.70 and fell to 0.50. The trade volume almost tripled compared to the last week and reached Hr 32,870.