Ukrainian Stock Market Weekly Review November 12-16, 2001 by KINTO Investments & Securities

Ukraine
Weekly Market Review
November 12 - 16, 2001

Analyst Olena Kozak

Politics & Economy

October GDP rises 9.1% YTD

According to the State Statistics Committee, real GDP gained 8% in October, versus October 2000. January-October 2001 GDP increased 9.1%, compared with the same period last year. GDP volume was UAH 170.427 billion (USD 31.7 billion) for the ten months of the year and UAH 18.421 billion (USD 3.5 billion) in October.

Government reduces its 2001 inflation forecast from 12.3% to 6%

The Cabinet of Ministers changed its 2001 inflation forecast from 12.3% to 6%.

As a reminder, the inflation totaled 3.92% for the first ten months of the year. Prices of food products grew 4.6%, non-food products became 0.6% more expensive, and services went up 4.7% in price.

Industry & Company

Oil&Gas

On November 15 Ukrnafta's shareholders meeting did not held

UNAF) did not take place because there was no quorum. Shareholders owning 53 % of shares were registered to participate in the meeting, while legal regulations required 60%. Privatbank and Ukrsibbank that held 41% of Ukrnafta's shares together did not registered.

The meeting agenda included items on reelection of Ukrnafta's supervisory board, on dividends for 2000, and on results of company's activity in 2000. It was said that the reason why Pryvatbank and Ukrsibbank foiled the meeting was that they had not arranged with the state company Naftogaz Ukrainy (holder of a 50%-and-one-share stake in Ukrnafta) about distribution of seats in the supervisory board. Naftogaz Ukrainy offered four seats out of eleven ones for these companies. However, they were not contended with the proposal, as they wanted five seats.

The same companies did not registered to participate in the previous August 28 shareholders meeting, which was also failed because of absence of quorum.

Preliminarily, the next shareholders meeting was scheduled on February 12, 2002.

SPF wants to sell 25% in Halychyna oil refinery

HANZ) oil refinery for Cabinet of Ministers' consideration. It is said that the SPF worked out the draft at the instance of Helens company, which held an interest in the stake.

However, on November 14, the Cabinet of Ministers deferred consideration of the possibility to sell the stake in Halychyna till unknown date.

As a reminder, on March 26, 2001, the Cabinet of Ministers transferred the above-mentioned state stake under management of Lviv regional authorities.

Source: KINTO, PFTS

16-November-2001
# Shares
MCap, $ mln
Share, %

CENTRENERGO
369,407,108
17.39
5.17

DNIPROENERGO
3,923,998
44.19
13.14

DONBASENERGO
23,644,301
38.58
11.47

KYIVENERGO
108,364,280
50.30
14.95

ZAKHIDENERGO
12,790,541
39.02
11.60

UKRNAFTA
54,228,510
146.90
43.67

Total

336.37
100.00

Company
Ticker
Max Bid
# Bids
Min Ask
# Asks
Spread, %
Quoted Price*

$
1 Wk Ch, %
4 Wk Ch, %
$
1 Wk Ch, %
4 Wk Ch, %
$
1 Wk Ch, %
4 Wk Ch, %

Azovstal
AZST
0.01
0.1
0.3
1
0.03
0.1
0.3
2
260.0
0.03
0.1
0.3

Centrenergo
CEEN
0.02
0.1
-39.6
10
0.04
0.1
-45.9
16
82.6
0.05
-2.3
-22.9

Dniproenergo
DNEN
1.89
64.2
-33.1
7
6.62
-12.4
-12.2
16
250.0
11.26
1.7
5.8

Donbasenergo
DOEN
0.39
0.1
-55.3
6
1.04
0.1
-38.7
12
168.3
1.63
0.1
-7.0

Halychyna Oil Refinery
HANZ
0.01
0.1
0.3
4
0.05
0.1
-3.7
3
380.0
0.03
0.1
-4.9

Kyivenergo
KIEN
0.15
4.0
-27.1
8
0.65
-1.3
-10.1
7
331.2
0.46
-1.1
-10.8

Kyivoblenergo
KOEN
0.01
0.1
0.3
3
0.04
0.1
0.3
4
366.7
0.05
0.1
0.3

Mariupol Illich Iron & Steel Works
MMKI
0.01
0.1
0.3
1
0.03
0.1
-6.0
2
200.0
0.02
0.1
-4.2

Nizhnedniprovsk Pipe-Rolling Plant
NITR
0.06
0.1
20.4
2
0.66
0.1
-6.1
4
1066.7
0.38
0.1
0.0

Poltavaoblenergo
POON
0.02
0.1
0.3
2
0.07
0.1
0.3
4
270.0
0.07
-0.7
-0.6

Slavutich Brewery
SLAV
3.78
17.8
-19.8
3
6.62
13.1
17.0
2
75.0
4.82
5.7
2.9

Stirol
STIR
0.38
0.1
-19.8
3
1.89
0.1
-8.8
3
400.0
1.06
0.1
-10.9

Ukrnafta
UNAF
3.18
-1.6
-6.9
15
3.69
5.0
-2.2
19
16.1
2.71
15.9
-14.9

Ukrrichflot
FLOT
1.15
18.6
52.9
4
2.65
27.4
-6.4
1
129.5
1.77
24.1
7.1

Zakhidenergo
ZAEN
1.13
0.1
-14.0
6
4.73
4.3
-7.1
6
316.7
3.05
3.4
-10.7

Zaporizhkoks
ZACO
0.12
-4.3
-2.7
3
0.14
4.3
-4.7
3
18.7
0.38
-9.1
-24.0

Zaporizhstal
ZPST
0.02
9.2
9.4
2
0.19
0.1
0.3
2
716.7%
0.10
0.3
0.0

* - Quoted price is a half-sum of average weighted bids and asks.

Source: PFTS, KINTO calculations

Company/Sector
Ticker
Last Price, $
Trading Volume, $
Share of company in trading volume, %
Percent of Shares Traded, %
Price Ch, %
Mkt Cap., $ m

1 Wk
4 Wk

Energy

Centrenergo
CEEN
0.13
6,718
0.96
0.02
294.7
155.6
49.6

Dniproenergo
DNEN
19.00
5,699
0.81
0.01
302.6
303.6
74.5

Donbasenergo
DOEN
3.55
4,947
0.71
0.01
527.4
191.5
84.0

Kyivenergo
KIEN
0.27
5,194
0.74
0.02
-37.8
-65.8
29.7

Zakhidenergo
ZAEN
5.50
5,501
0.79
0.01
377.6
125.6
70.4

Metallurgy

Makiyivka Metallurgical Plant
MKKI
0.002
4,270
0.61
0.13
0.1
0.3
3.2

Nyzhnodniprovsky Pipe-Rolling Plant
NITR
0.18
235,619
33.67
2.65
-60.9
-60.9
9.7

Yenakievo Metallurgical Plant
ENMZ
0.28
4,346
0.62
0.15
0.1
0.3
2.9

Zaporizhkoks
ZACO
0.08
24,879
3.56
0.14
-29.9
56.0
9.5

Chemistry

Chimvolokno (Cherkasy)
CHVO
0.002
5,195
0.74
0.48
-93.5
-93.5
1.1

Krasitel
KRAS
0.001
4,827
0.69
0.58
-98.5
-98.5
0.9

Oil & Gas

Ukrnafta
UNAF
3.97
48,934
6.99
0.03
0.4
11.6
215.3

Food Industry

Korovai
KORV
0.45
1,778
0.25
0.05
7.5
7.5
3.9

Kyiv Meat-Processing Plant
KMCO
0.02
13,298
1.90
4.57
39.5
37.0
0.4

Monomakh
MONM
2.17
2,241
0.32
0.30
-1.6
1.3
0.7

VINNIFRUT (bearer shares)
VINIP
28.82
11,957
1.71
0.07
0.8
-
16.3

Finance

Bank AVAL
BAVL
0.02
296,624
42.39
1.03
0.1
11.4
30.2

Others

Avtoalyans 21 Century
AVTL
2.08
17,664
2.52
4.25
10.4
10.4
0.4

Total

699,691
100.0

Source: PFTS, KINTO calculations

Official Exchange Rate: as of November 16, 2001: 5.2885 UAH/USD