The State Property Fund of Ukraine (SPF) has approved the cost of state-owned shares in PJSC Ukrainian Bank for Reconstruction and Development (UBRD), constituting 99.9945% of the charter capital, at UAH 118.902 million after an independent evaluation, according to the fund's website.

According to the report, the decision was approved by an SPF order dated November 10, 2015.

The SPF plans to announce the sale of shares in UBRD, as well as requirements for buyers and investment obligations next week.

The total nominal value of the state-owned stake, accounting for 235,986 shares, is UAH 117.993 million.

The fund noted that an individual who plans to acquire a substantial stake in the bank is obliged to notify the bank and the National Bank of Ukraine (NBU) of their intention to do so three months prior to the acquisition of a significant stake. At the same time, the National Bank will consider applications within three months from the date of receipt of the full package of documents.

As reported, with reference to the SPF, as of June 30, 2015 the residual value of the UBRD fixed assets amounted to UAH 29.395 million, investment property UAH 27.903 million.