EAVEX Weekly

March 09, 2021
 

Stocks listed on the local Ukrainian Exchange were mixed last week, with the UX index slipping by 0.5% to 1768 points due to a decline in heavyweight index basket member UkrNafta (UNAF) by 6.8% to UAH 205 per share. The UNAF stock took a hit after information that the company’s key minority shareholder Igor Kolomoyskiy is being sanctioned by the United States due to his involvement in major corruption. Kolomoyskiy’s reputation deteriorated after his PrivatBank had to be nationalized and bailed out in December 2016 due to the siphoning off of billions of dollars via insider loans. Kolomoyskiy is also accused of laundering hundreds of millions of dollars though US-based shell companies and real estate assets.