KDD Raises USD 130 mln In London IPO

18 December 2008

Yesterday the Kyiv Donbas Development Group (KDDG LN) announced it had placed a 19.6% stake on LSE AIM, raising USD 130 mln. Market capitalization at placement totaled USD 660 mln. According to IPO results P/NAV ratio is 0.7. The developer’s portfolio amounts to 2.7 mln m2, valued at USD 908.2 mln, according to Kommersant. The proceeds are lower than the anticipated USD 300 mln KDD Group hoped to raise, based on previous announcements.

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