Agro-holding Industrial Milk to gain $95 million from IPO on WSE
2011-04-11 16:29:06
Ukrainian agro-holding Industrial Milk Co. SA (IMC) is planning to earn 260 million zlotys ($95 million) from the IPO on the Warsaw Stock Exchange (WSE).
Industrial Milk set a maximum price of 21 zlotys per share, according to the company's placement prospectus. Orders Book for 12.4 million shares opens today and closes on April 20.
The consultants are ING Groep NV and Investment Capital Ukraine.
IMC activities focus on cereals, oilseeds and potatoes. The company is also one of the largest milk producers in Ukraine. It manages 38,000 hectares of land.
IMC income for 2010 totaled $34.8 million, net profit $14.8 million.
Currently traded on WSE are the shares of five Ukrainian companies: Astarta NV, Kernel SA, Agroton pls, Mikiland NV, Sadovaya Group SA. Beside Sadovaya (coal mining), all the companies are working in agriculture.