4 November 2011
Avangard (LSE: AVGR LI, N/R), Ukraine’s largest shell egg producer, scheduled an EGM for November 30 to approve a share buyback. Yegor Samusenko: We believe the company’s management has strong incentives to push the price of Avangard shares up, given that its parent company Ukrlandfarming (77.5% stake in Avangard) plans to issue new shares in the upcoming months. We estimate Avangard to contribute 30% – 60% to Ukrlandfarming’s total value.