The State Property Fund of Ukraine (SPFU) held seven successful online privatization auctions last week, raising ₴134.21M. The average price increase was 175%. The most expensive object of the week was the Kyiv Automobile Repair Plant enterprise, which was sold for ₴123.3M($3M).
This week, the SPFU planned to hold 10 privatization auctions. However, the electronic auction for the sale of 100% of the Titanium Institute enterprise (Zaporizhzhia), with an initial price of ₴99.77M ($2.3M), did not take place due to a lack of applications from potential buyers. The institute performs a full range of research and design work that is necessary to obtain rare earth metals.
But, on August 12 the Fund sold 100% of the state-owned enterprise Ukrainian Scientific and Technical Center of the Metallurgical Industry Energostal (Kharkiv) to Sanders Loft for ₴600M (+₴120M VAT). The starting price for the lot was only ₴10.47M.