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13:44
UKRAINE TO AUCTION STATE STAKE IN KHARKIVMETROBUD

Kyiv, August 6 (Interfax-Ukraine) – The Cabinet of Ministers of Ukraine has approved a plan to placing shares in OJSC Kharkivmetrobud, in which a 50% plus one share stake is to be auctioned, Dmytro Parfenenko, the acting head of the State Property Fund, has reported.

"A decision was taken, under which a 50% plus one share stake in Kharkivmetrobud is to be auctioned," he told journalists in Kyiv.

Parfenenko said that a tender would be announced after the company's assets are estimated.

As reported, the cabinet put the 50% plus one share stake in Kharkivmetrobud onto the list of state property to be sold in 2009.

The Kharkiv regional economic court on April 6 opened a case on the bankruptcy of Kharkivmetrobud and introduced a moratorium on satisfying creditors' demands.

Kharkivmetrobud in January to March 2009 saw its net loss fall by 25.3% year-on-year, to UAH 2.075 million. The company's net income in the first quarter of 2009 fell by 59.4%, to UAH 3.033 million.

Kharkivmetrobud was created in 1995. Its core business is the construction of underground railways.

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