The State Property Fund sold shares of the Ukrainian Bank for Reconstruction and Development to the Chinese investor for UAH 82.827 million, according to SPF message, Economic Truth reports.
On June 21, SPFU reportedly started a new process of preparation for privatization of the Ukrainian Bank for Reconstruction and Development due to the expired validity period of previous appraisal.
It should be reminded that last time the auction for sale of this package was scheduled for April 22, 2016, and its starting price was UAH 118.902 mln. The auction did not happen due to absence of buyers.
The Ministry of Finance submitted UBRD’s share package, amounting to 99.9945%, to SPF in late June, 2015. In May, the government decided to include the bank to the list of state property items, subject to privatization in 2015.
UBRD was founded in 2004 for development of the corporate as well as small and medium business through medium and long term lending.
Its owner was the State Innovation Financial and Credit Institution, then – State Investment Company.
In 2013, the bank was transferred to the Ministry of Finance, and the Nikolai Azalov’s government planned to create the Bank for Development on its basis.
