OREANDA-NEWS. According to financial sevices provider Millenium Capital, USH, Ukrainian Steel Holdings Ltd (Cyprus), replaced System Capital Management (SCM) in Azovstal's (AZST UZ USD0.906 Accumulate) shareholding. As a result, Ukrainian Steel Holdings Ltd's block totals 52.634% and SCM is no longer a shareholder of the steelworks. Earlier in August , Ukrainian Steel Holdings Ltd replaced SCM in the shareholding of Yenakievskiy Steelworks (ENMZ UZ USD53.61 Accumulate) and earlier in September the same was done for Avdiivka Coke-Processing Works (AVDK UZ USD2.45 Sell).

We associate the transaction with the holding restructuring and think that the change in shareholders list will have no effect on the stock price.