Kyiv Post — Avangard, Ukraine’s biggest egg producer, plans to boost output by 36 percent to 6 billion eggs in 2011 and, if circumstances are favorable, may sell up to 10 percent shares in a secondary public offering, its chief executive told Reuters.
“In the current year, it is possible we will have an SPO to increase liquidity. We’ll look at the market and it will be a sale of no more than 10 percent of shares,” Oleg Bakhmatyuk, Avangard’s majority shareholder told Reuters.
“In the current year, all our programs are running according to plan. We plan to produce about 6 billion eggs by partially putting into operation new capacity,” Bakhmatyuk added.
After selling a 20 percent stake in Avangard for $187.5 million through an IPO on the London Stock Exchange in 2010, Bakhmatyuk has moved fast to expanded his budding agriculture empire in Ukraine.
He is quickly becoming one of the biggest agribusiness tycoons in Ukraine, a country known for its promising agriculture sector.
Kyiv-based investment bank BG Capital reported on Feb. 22 that Bakhmatyuk had through a separate company acquired poultry production assets in the U.S.
Separately, Ukrlandfarming, a promissing farming company that is also controlled by Bakhmatyuk, is close to closing its acquisition of another big Ukrainian agribusiness called Rise.
