KYIV, July 24 – Ukraine will sell a 35 percent stake in electricity generating company Donbassenergo at a tender in the first quarter of 2001, the State Property Fund said on Monday.
The fund will sell an additional stake of 0.70 percent at a stock exchange this year, it said. The state will keep a 50 percent plus one share in the company until November 2001.
Employees hold 14.23 percent in the company, located in eastern Ukraine.
The charter capital of the company, defined as the number of shares multiplied by the face value of one share, is Hr 236.443 million ($43.47 million).
The company, which accounts for 15 percent of country’s power generating capacity, had said previously it would pay Hr 0.32 in dividends on 1999 results.
Its shares listed on the first tier of the PFTS electronic share trading system were flat at Hr 18.50 on Monday.
Foreign lenders are urging the ex-Soviet state to modernize its troubled power sector by privatizing major companies and attracting investments needed for upgrading aging equipment and restructuring the sector.
