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A record for the dynamics of prices rise at the auction is set in Ukraine, from 295 thousand UAH up to 11.5 million UAH-UUE

Friday, July 24, 2015 Ukrainian Universal Exchange held auctions on increase conducted by experts. At auctions buyers competed for a special permit for subsoil use (5 – oil and gas and 1 - for water production).

Auctions were initiated by the State Service of Geology and Mineral Resources of Ukraine.

During the auction, experts of Ukrainian Universal Exchange recorded the highest growth starting price for all lots, and one lot was recognized as the historical record.

For example, the auction for the right to use Bonevski area (Lviv region, Iavorivskyi and Mostysk districts) have been very active and with a starting price of more than 137 thousand UAH 315 steps of the auction; the bid price rose to 3,287 million UAH.

Auctions on other special permits were also very active - number of steps fluctuated around 600 steps each, and the actual sales price was formed by several orders of magnitude higher than the starting value.

The biggest excitement was caused by special permit for the use of Rudnykovska area (Lviv region, Mykolaiv, Zhydachiv, Pustomyty districts). With a starting price of more than 295 thousand UAH, for a record 1125 steps the price rose to 11 555 million UAH.

The results of the auctions were commented by the Deputy Director of the Ukrainian Universal Exchange Serhii Hladkyi: - “UUE intensively works on the development of market relations and development of maximum competitiveness in the domestic markets. Compliance with the rules and principles of open and transparent auctions and bidding allows one to identify a fair price, and take into account the interests of all stakeholders, primarily the state of Ukraine. Thanks to these auctions maximum benefits will have the state and we are happy to help in the issue of the protection of economic interests, so as to increase the revenues of the state budget.”

Ukrainian universal exchange reports that the result of auctions on Rudnykovska area is an absolute record for the entire period of Ukraine's Independence and became possible due to equal and fair conditions of participation for everyone. Some of the buyers were companies with foreign capital, and showed that such methods the state introduces in practice are transparent anti-corruption mechanisms that help to attract investors.

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