On June 24, 2011 Continental Farmers Group (CFG), large agricultural company working in Ukraine and Poland, announced about its IPO on London Stock Exchange and Irish Stock Exchange. According to the price of IPO, capitalization of the company was determined at 42.7 M Euros.

Share of the largest investor CFG - Origin Enterprises plc has decreased from the level of 38.7% to 24.2%, however number of shares in the portfolio has increased from 32.11M shares to 39.64M shares respectively. DavyCrest Nominees boosted its stake from 8.9% to 13.5%. At the same time, the share of CEOMark Charles Laird has decreased from 13.7% to 7.1%, although number of shares rose from 11.34 million to 11.63 million, while the share of Zherardin O'Connor (wife of non-executive director Thomas O'Connor), decreased from 8.9% to 4.5% without increase in the number of shares.

New major shareholders of CFG are Artemis Funds - 8,2%, F&C Investments - 5,6%, KB Investors - 4%, Polar Capital, Zurich Financial and Blackrock International - by 3.5%. According to the data presented the total number of shares on the basis of IPO increased by 97% to the level of 163.49 million. It is expected that the shares will be admitted to trading on June 28, 2011.

CFG operates in Ukraine since 2006 and currently rents 21K hectares of agricultural land in Ukraine, 16K hectares are under crops. The company plans to increase its land bank by 50 thousand hectares in the next 5 years. In 2008-2009, the company has attracted 20 million Euros to expand into Ukraine, and as a result Origin International Enterprises Service became the largest shareholder of the company with portfolio of 7.8%.

UAIndex