Konchern Khlibprom announces private equity sale
2011-04-07 18:09:03
Koncern Khlibprom owned by Universal Investment Group, said it had sold a 25% equity stake to a private institutional investor. Universal Investment Group President Mr. Vitaliy Antonov did not say who the investor. Antonov said the equity will go towards company expansion and modernization. However we believe this is likely the start of preparations to take the company public through an IPO Khlibprom has a 7% market share of Ukraine’s baked goods and if it is successful in IPO ing then we believe other will follow. Khlibprom also announced that it plans to issue 150 million hryvnia of domestic bonds to finance operating costs.