MHP Raises USD 322.5 mln via IPO

Mironivskiy Hleboproduct raised USD 322.5 mln via an IPO on the London Stock Exchange on May 9, which values Ukraine’s largest poultry producer at USD 1.7 bln. Offering was composed of 10.8 mln existing ordinary shares and 10.8 mln new shares both in the form of GDRs (1:1 GDRs per ordinary share). Together the offering constituted about 19.4% of the company’s share capital. The IPO share price was set at USD 15. Unconditional trading in MHP shares on the LSE is expected to start on May 15. Anna Dudchenko: The stock’s price increased by 8%, to USD 16.2 per share in the first day of trading, demonstrating investors’ positive view on the company. MHP was able to raise the amount of money it initially planned despite the uneasy market, at a price within the targeted indicative price range of USD 14-18.5 per GDR.