Agroholding Valinor intends to attract USD 348 million at IPO in Warsaw
2011-07-06 14:52:44
Agroindustrial holding Valinor with assets in Ukraine and Russia hopes to raise PLN 948 million (USD 348 million) during the oncoming initial public offering (IPO) at the Warsaw Stock Exchange (WSE).
Therefore, the company set the maximum prices for stocks at the oncoming offering at PLN 39.5 (USD 14.5), which corresponds to the assessment of the enterprise value at PLN 1.7 billion (USD 623 million). Those figures are cited in Valinor's press release, published on the WSE website.
Announcement of the offering price is slated for July 15, trading is planned for July 26, 2011.
Valinor specified that the raised funds will be sent for the purchase of land plots, investments in production and raising of operational efficiency.
Joint organizers and bookrunners of IPO are Deutsche Bank and Troika Dialog.
Trade representations of the Valars Group are working in main grain producing regions of the CIS countries, as well as in many Mediterranean countries and Asia. About 358,000 ha of land are controlled by Valinor in Ukraine and Russia.