Sintal raises USD 13 mln via 17.2% share placement
22 October 2009
Sintal Agriculture (SNPS GR) announced yesterday that raised USD 13 mln via the placement of a 17.2% stake in the company, Kommersant reported this morning. Andriy Gostik: Based on the reported placement results, Sintal’s MCap totaled ~USD 76 mln. Implied EV/Planted Land 2009 is USD 885/ha. Given tight capital markets, we consider the placement successful overall and see it as a trigger for the stock’s price.
