Privatization of 26% of Naftokhimik Prykarpattya shares fails due to lack of buyers

The online auction for the privatization of 26% of the charter capital of PJSC Naftokhimik Prykarpattya (Nadvirna Refinery, Ivano-Frankivsk region) was scheduled for Monday with a starting price of UAH 425.45 million, excluding VAT. However, the auction did not take place due to a lack of buyers.

The results report states, "There are no participants," although the State Property Fund stated that it "expects high competition between participants at the privatization auction because this is a promising object in a promising industry."

As reported, in November 2024, the State Property Fund was also unable to sell 26% of shares of Naftokhimik Prykarpattya due to the lack of participants.

The total income of the enterprise for the first half of 2024 amounted to UAH 47.072 million, in 2023 – UAH 114.814 million, in 2022 – UAH 265.56 million, and in 2021 – UAH 2.2 billion.

As of July 1 of this year, the average number of employees of the enterprise was 428 people.

The privatization object includes eleven units of real estate: four property complexes; a transformer substation; a kindergarten; a sports complex; a garage (share 51/100); two production and warehouse buildings (share 1/100); a gas station; and 55 vehicles and pieces of special equipment manufactured between 1988 and 2022.

The joint-stock company is located on 12 registered plots of land with a total area of 214,0420 hectares.

As of January 1 of this year, part of the real estate was leased in accordance with five agreements.

Naftokhimik Prykarpattya has tanks for receiving and storing oil. Its primary oil refining facilities have been idle for over 10 years, and it does not produce any oil products.