Sintal to list in Warsaw in 2010

Sintal Agriculture (FSE: SNPS GF) plans to transfer about 10% of its existing shares (less than half of its free float) for trading on the Warsaw Stock Exchange, Deputy General Director Anna Dudchenko said yesterday, according to Interfax. Dudchenko says the company is now in active negotiations on the transfer, which she said could be listed there in October 2010. Sintal raised USD 13 mln via the private placement of a 17.2% stake in the company in October 2009, and USD 34.5 mln by placing 15% in August 2008. Dudchenko said Sintal is not planning to make a new placement in 2010 and will focus on using proceeds raised in 2009 to finish the construction of a 115 ths mt elevator in Kharkiv, increase its land bank from 100 ths ha to 120 ths ha, and implement irrigation projects.