The privatisation process was suspended a year ago over the COVID pandemic and officials said earlier this year that they hoped selloffs could raise as much as 12 billion hryvnias ($430 million).

Currently, in 50th place on Ukraine’s Forbes List, Oleg has achieved his $210 million fortune as a Founder and CEO of People.ai – a startup at the forefront of digital technology.

Total income rose by 2 percent year-on-year to 172.7 billion hryvnias, while expenses declined by 7 percent to 127.1 billion hryvnias as of September 1.

Goldman Sachs, J.P. Morgan and BofA Securities are the lead underwriters for the IPO.

It’s expected that HC Trading, a member of Heidelberg Cement Group, will deliver coal in two shiploads ­– the first in December 2021, the second in January next year.