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Ukrainian Egg Producer to Hold U.K. IPO
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7 April 2010
Ukraine's biggest egg producer, Avangard, is planning a stock-market float in London, the first firm from the Commonwealth of Independent States to announce a capital raising in Britain this year.
Announced that the group was hoping to raise $200 million from the IPO. A spokesman declined to comment on the expected returns, or the timing of the float.
Avangard, which has more than 16 million birds, said Tuesday that it needed funds to build and expand new facilities.
The company said in a statement that its revenue grew to $320 million last year from $303 million in 2008, and it had earnings before interest, tax, depreciation and amortization of $152 million.
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