News
25.10.2010
Ukraine's Agroton Sets Warsaw IPO Value at USD54mln
Ukraine's agricultural producer Agroton has set the value of its initial public share offer for a listing in Warsaw at 153 million zlotys ($53.9 million), 17 million short of the planned maximum price, it said on Friday.
Agroton, which produces grain, meat, dairy products as well as bread and pasta, set the share price at 27 zlotys each. It plans to debut on the Warsaw bourse in early November.
The company said earlier it would sell new shares representing 26.2 percent of the enlarged shareholder structure. It is also considering a $50 million bond issue.
The inflows from the flotation will boost Agroton's farming area and storage capacity. Ukraine, a major global exporter of grain, plans to introduce private land ownership this year.
Money from the possible three-year bond issue, which could yield 11 percent would be used to refinance other debt, Agroton said.
Agroton reported first-half earnings before interest, taxes, depreciation and amortisation of $38 million, up from $21 million in the 2009 period.
flex-news-food
