News
22.06.2009
Intercorn Corn Processing Industry to issue shares
The corn-steep liquor producer, Intercorn Corn Processing Industry (Dnepropetrovsk, 100% owned by the investment fund Prime Assets Capital) is planning to issue 250mn ordinary registered shares nominally worth UAH 1 (EUR 0.09 USD 0.13). When the paper is floated by private subscription, the charter capital of the company will rise to UAH 302.50mn (EUR 28.43mn USD 39.56mn). The attracted funds will be allotted for development. In March 2009, the plant had to suspend operation due to lack of demand for its products among its major consumers in the confectionery and brewing spheres.
In 2008, Intercorn Corn Processing Industry incurred UAH 84.52mn in loss. Net revenue of the company rose by 51.8% against 2007, to UAH 117.01mn.
