Daily Market Review (17-Dec-01) by KINTO Investments & Securities

On Monday government bonds won back the leader's position as they claimed almost all the volume on the PFTS (96.86%, $18.999 million). They drove total PFTS trading volume to $19.615 million, which was more than six times the number reached the day before, and a bit lower than the December 13's volume.

KRMZ) ($354,294), whose 51.59% (!) of the charter fund (1,024,659 shares) were traded in three blocks (practically equal by volume) at a rather high prices, in light of virtually zero demand - $0.42, $0.32, and $0.30 a share. To compare, Krasnogvardiysk Butter Factory's max bid is $0.06.

Big (more or less) contributions also came from trading in Series C bonds of Closed Joint Stock Company "Kyivstar GSM" (OKSTС)($58,798, 311,358 bonds) and bonds of Raiffeisenbank-Ukraine (ORFUA) ($58,793, 311,334 bonds), which were traded for the first time on the PFTS. Notice:On June 15 - 21, 2001 Raiffeisenbank carried out an uncertificated bond IPO. The volume of issue was UAH 23 million. Bond's face value -- UAH 1,000. Maturity date -- June 27, 2002. The annual coupon rate -- 17%. Dates of coupon payment -- September 9, 2001; January 27, 2001; March 27, 2002; and June 27,2002.

VINIP), Series A bonds of Closed Joint Stock Company "Kyivstar GSM" (OKSTA), shares of Kyiv Meat-Processing Plant (KMCO) (transaction price surged 4,435%!),Dnipropetrovsk Babushkin Metal Construction Plant (DZMK) (Last Price lost 21.74%), Elektromashbud (EMBD) (sold 11.98% (!) of the charter fund), registered investment certificates of the Petro Mohyla Investment Fund (IFPMI), shares of Monomakh (MONM) and Zaporizhkoks (ZACO) (transaction price fell 12.37%).

PFTS for the day, December 17:

Company/Sector
Ticker
Last Price, $
Change, %
Daily Volume, $
Tr. Volume, shares
Total Daily Tr. Volume Share, %
Statutory Fund Share, %
MCap, $ m

Metallurgy

Zaporizhkoks
ZACO
0.13
-12.37
350
2,650
0.00
0.00
15.77

Mechanical Engineering & Hardware

Dnipropetrovsk Babushkin Metal Construction Plant
DZMK
0.03
-21.74
16,183
539,370
0.08
0.80
2.30

Machinery

Elektromashbud
EMBD
0.001
0.00
4,851
3,834,243
0.02
11.98
0.04

Food Industry

Krasnogvardiysk Butter Factory
KRMZ
0.30
0.71
354,294
1,024,659
1.81
51.59
0.60

Kyiv Meat-Processing Plant
KMCO
0.66*
4434.77
23,511
35,572
0.12
0.17
13.47

Monomakh
MONM
2.16
-0.41
838
386
0.00
0.11
0.74

Vinnifruit (bearer shares)
VINIP
29.10
0.28
57,998
1,993
0.30
0.35
16.44

Investment Certificates

Petro Mohyla Investment Fund Investment Certificates (registered)
IFPMI
5.00
0.76
1,626
8,613
0.01

Debt

Kyivstar GSM Bonds (Series A)
OKSTA
195.77
0.48
39,154
207,334
0.20

Kyivstar GSM Bonds (Series C)
OKSTC
195.99
0.35
58,798
311,358
0.30

Raiffeisenbank-Ukraine Bonds
ORFUA
195.98
-
58,793
311,334
0.30

Government Bonds

maturity 25-Mar-02
1118
190.75
0.77
953,752
5,000
4.86

maturity 25-Apr-02
1119
190.75
0.77
2,804,032
14,700
14.30

maturity 25-Jun-03
1133
190.75
0.34
1,888,430
9,900
9.63

maturity 25-Jun-04
1145
190.75
0.42
13,352,532
70,000
68.07

Total

19,615,143

100.0

* - the price falls out of the PFTS spread or the amount traded is less than UAH 1,000 (which equals $188.84 at the exchange rate of UAH 5.2954/$).

KIEN) and Ukrnafta (UNAF) stood out from the rest of the crowd. Kyivenergo's max bid fell 8.7% (after a 9.55% rise the day before). Ukrnafta gave us a decline in both max bid (-1.12%) and min ask (-0.51%).

Company
Max Bid Price, $
Change, %
Min Ask Price, $
Change, %
Quoted Price, $
Change, %
KINDEX Share, %

Centrenergo
0.03
0.00
0.04
0.00
0.05
0.00
5.80%

Dniproenergo
2.64
0.00
6.61
0.00
11.73
2.09
13.47%

Donbasenergo
0.39
0.00
1.04
0.00
1.54
0.00
10.66%

Kyivenergo
0.20
-8.70
0.70
0.00
0.52
-0.55
16.56%

Zakhidenergo
1.13
0.00
4.15
0.00
2.81
-0.09
10.50%

Ukrnafta
3.32
-1.12
3.66
-0.51
2.71
0.00
43.01%

· - Quoted price is a half-sum of average weighted bids and asks (KINTO calculations).

We did not see any significant changes in quotations for other companies that deserve attention.

Company
Ticker PFTS
Max Bid Price, $
Change, %
Min Ask Price, $
Change, %
Quoted Price, $
Change, %

Azovstal
AZST
0.01
0.00
0.05
0.00
0.03
0.00

Mariupol Iron & Steel Works
MMKI
0.01
0.00
-
-
-
-

Nyzhnodniprovsky Pipe-Rolling Plant
NITR
0.08
0.00
0.66
0.00
0.39
0.00

Zaporizhkoks
ZACO
0.13
0.00
0.38
0.00
0.72
0.00

Zaporizhstal
ZPST
0.02
0.00
0.19
0.00
0.10
0.00

Kyivoblenergo
KOEN
0.01
0.00
0.04
0.00
0.05
0.00

Poltavaoblenergo
POON
0.02
0.00
0.07
0.00
0.07
0.00

Halychyna Oil Refinery
HANZ
0.01
0.00
0.05
0.00
0.03
0.00

Slavutich Brewery
SLAV
3.97
0.00
-
-
-
-

Stirol
STIR
0.57
0.00
1.89
0.00
1.06
-0.07

Ukrrichflot
FLOT
1.13
0.00
2.64
0.00
1.72
0.00

DNEN) was a gainer in the quoted price (+2.09%), and Kyivenergo was the top loser (-0.55%).

www.kinto.com
Analyst: Olena Rotay