Ovostar Union to gain $31 million from IPO on WSE
2011-06-02 10:40:22
Ovostar Union N.V. (Netherlands), holding company of one of the largest Ukrainian producers of eggs and egg products, Ovostar Group (TMs Yasensvit and Teleshivske), is planning to gain $31 million from the initial public offering (IPO) on the Warsaw Stock Exchange (WSE), as reported by the press office of the exchange.
The holding plans to accommodate 1.5 million new shares at a maximum price of 62 zlotys ($22.6) per share.
The net profit of Ovostar Union in 2010 was $9 million, and revenue $37 million. The holding produced 546.1 million eggs and 4,700 tons of egg products, when chicken population at its factories reached 2.1 million.
The company supplies its products to Nestle and McDonalds, and sells it through the networks Metro, Auchan, Billa, etc.