Another privatization record: Over 100 entrepreneurs participated in a transparent bidding process simultaneously
The State Property Fund achieved a new record for privatization auctions. Today, September 22, 101 entrepreneurs participated in six SPFU auctions. This marks the highest daily number of potential buyers in recent months, and the second highest since the auctions resumed (134 investors took part on April 25).
"Over 100 entrepreneurs recently competed for state-owned assets in order to advance their businesses, demonstrating the success of open and transparent auctions," declared Oleksandr Fedorishyn, Acting Chairman of the SPFU.
Throughout the week of September 18 to 22, the SPFU conducted a total of nine auctions resulting in a substantial increase in the final value of assets. The starting price, listed at UAH 2.7 million, increased fourteen-fold, ultimately reaching UAH 38 million.
Thirty bidders participated in the auction for a hunting center located in the Ivano-Frankivsk region, making it the auction with the highest number of bidders of the week. This sale achieved the highest price of UAH 32 million. Even though the starting price of the property was only UAH 560 thousand, transparent sales procedures and substantial competition increased its value by 57 times.
The funds raised by the SPFU from privatization are used to support the Defense Forces. This week's auction yielded over 100 pickup trucks for Ukrainian defenders. In addition, Ukrainian businesses have the chance to grow, provide employment, and pay taxes.