KIEV, May 20 – An explanation from the State Property Fund on the formation of the starting price of Odessa Port-Side Plant will attract higher bids, Managing Director for Eastern Europe and the Caucasus at the European Bank for Reconstruction and Development Francis Malige said.

He said that the initial price is important, as it should reflect the state of the enterprise and the market where it operates. It is better when the State Property Fund explains the parameters used in the appraisal of the shares, and then each will be able to make own conclusion on the cost of the plant, Malige said.