EAVEX Weekly

March 15, 2021

Kyiv-listed stocks remained in their recent trading range, with the UX index inching down by 0.1% last week to close at 1767 points. The hot name UkrNafta (UNAF) saw its stock at a bid of UAH 210 while the ask quote rose to UAH 230 per share. The large spread in the UNAF stock indicates that market players in a period of uncertainty about how UkrNafta might be split between its shareholders according to the government’s announced strategy. Raiffeisen Bank Aval (BAVL) shed 1.0% to 49.00 kopecks ahead of the bank’s annual shareholder meeting publication; minority shareholders are awaiting a dividend payout which could top 90% from the FY20 net profit of UAH 4.07bn. We project that Raiffeisen Aval will pay 5.95 kopecks per share.