KSG Agro expects to IPO and double profit in 2011
2011-04-07 17:23:02
The company said it forecasts profits in 2011 will reach $19,95 million which is double of 2010 results. In it’s IPO prospectus the company said net income should increase to $26,5 million, EBITDA will increase to $24,24 million in 2011 from $12,2 million in 2010. Further they expect to increase the land bank from 33,7 thousand hectares to 54,2. The company is looking to raise $44 million on an IPO on the Warsaw Stock Exchange and will declare its share price on April 15. The company produces grains, oilseeds, fruits and vegetables, and has 8 operating units in Dnipropetrovsk, Kharkiv and Kherson Oblasts. Lead Manager is Dom Maklerski BZ WBK, co lead and financial advisor is Visum Capital Kyiv, advisor Bank Zachodni WBK. Currently 98% of the shares are owned by S. Kasianov.