Daily monitor

VS Energy, the main shareholder in electricity distribution company Odesaoblenergo [ODEN], has announced its plans to buy four gas turbines worth USD 225 mln from Siemens, to be installed on the newly built power station in the portside city of Ismail in the Odessa oblast.

Kovelmoloko [KMOL UZ, U/R] has attracted a one-year, USD 5.5 mln loan with an interest rate of 20% from UkrExim Bank, according to a contract signed May 7. KMOL is one of the top dairy producers in Ukraine and is a main production asset of the Western Milk group. The loan will be used to fulfill working capital.

On May 01, Donetsk Metal Rolling Plant [DMPZ UZ, HOLD] has launched its main Mill 300 after 35 days repairs. According to Metal Courier, in April the company halted production completely (as we reported was expected earlier). In May, 12 thsd metric tons is to be produced.

Donetsk Metal Rolling Plant [DMPZ UZ, HOLD] released the 2007 financials.

Starting July 1, the gas price for industrial enterprises in Ukraine will be raised to USD 292 per thsd cbm from the current USD 283. This is the third month in a row the government has increased the gas price for the industrials. Since Jan. 1, 2008, the price of gas will have appreciated USD 39 per thsd cbm for the enterprises.

Dniprovsky Iron & Steel Works named after Dzerzhinsky, or simply Dzerzhynka [DMKD UZ, SELL], is conducting a share capital increase. Number of shares outstanding will increase 2.44 times, to 6.777 bln. The ex-rights date was May 12.

Zaporizhstal [ZPST UZ, HOLD] will attract USD 250 mln of syndicated credit (three years, LIBOR+2.5%). According to Cbonds.info, which cited EuroWeek, Citigroup is organizing the deal.

TAS Group recently announced its plans to possibly unite the carriage-building companies it owns to create one carriage-building holding with subsequent IPO plans.

Mironivsky Hliboproduct SA (MHP), one of the top poultry producers in Ukraine, raised USD 322.5 mln in an IPO on the London Stock Exchange May 9. The company’s market capitalization has reached USD 1.7 bln, according to Bloomberg. Initially, 19.41% was offered of MHP’s ordinary share capital.

Official statistics on industrial production in Ukraine indicate real industrial production accelerated to 8.0% YoY in 4M08, compared to 7.8% YoY in 3M08. Processing industries grew 8.7% YoY in 4M08, whereas utilities showed +5.4% YoY and mining +4.0% YoY in 4M08.