Landkom International Raises USD 111 mln in AIM IPO

Landkom International, announced today that it had completed a GBP 54 mln (USD 111 mln) fundraising (before expenses) through an IPO. The equity is expected to list on Nov. 22 on AIM. Landkom was advised by Libertas Capital. The company placed a 54.9% stake (103.85 mln shares) at 52 pence per share, which values Landkom at GBP 98.4 mln (USD 200.6 mln). The company currently leases 30 ths ha of land, with a focus on Western Ukraine. In addition to using the proceeds to expand the company’s land bank (management is targeting 350 ths ha by 2010), Landkom intends to acquire machinery and new production facilities. Landkom is a producer of high-value agricultural feedstock, such as rapeseed and wheat.