Stock Market Players Notice Insignificant Influence Of Sale Of 92.8% Of Ukrtelecom On Company Quotations

Stock market players notice insignificant influence of the sale by the State Property Fund of 92.8% of shares in Ukrtelecom, Ukraine’s biggest telecommunication company, to ESU (Kyiv; subsidiary of the European Privatisation and Investment Corporation, EPIC, Austria) on Ukrtelecom quotations.

“The trading in Ukrtelecom shares opened at 57 kopecks a share. The peak was at the level of 58.8 at about 11:20. And then Ukrtelecom slid down abruptly and by noon reached 56.6 kopecks a share. It now trades in this range,” said Andrii Tarasenko, the head of the investment consulting department at Upras Capital.

In his opinion, they expect no split-off or separation of some of the company assets after its privatisation, as this is not allowed by the privatisation conditions.

Viacheslav Ivanyshyn, an analyst at the TASK Investing Group, says that a slight growth of Ukrtelecom quotations was observed right next to the announcement of the sale of the 92.8-percent stake in the company, although soon the upward movement changed for a fall in the price of the stock.

“Was a little growth upwards, and then Ukrtelecom shares ‘fell in’ again. This means the stock market players don’t believe in further runup of the company shares,” he said.

Ivanyshyn also takes as unlikely split-off of the telecom company after the sale of 92.8% of shares in it.

Mykhailo Roiko, the president of equity firms at Amadeus Asset Management (Kyiv), has stressed that the dynamics of the cost of Ukrtelecom shares coincide with the general dynamics of the market, which testified to insignificant influence of the sale 92.8% of shares in the company on quotations of its securities.

As Ukrainian News earlier reported, the State Property Fund of Ukraine on March 11 sold 92.79% of shares in Ukrtelecom to ESU for UAH 10.575 billion.

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