|
November 27, 2009
DT&T acted as a counsel of BG AGRO AD (the „Company”) and the Selling Shareholders, in a team with UniCredit Bulbank, Lead Manager of the Offering
On 26 November 2009 the book-building for the sale of existing shares of the Company was successfully closed. The Selling Shareholders and the Lead Manager set the Offer Price at BGN 1.67 per share. The Selling Shareholders and the Lead Manager allocated 5,189,967 ordinary shares with nominal value of BGN 1 (out of 6,053,616 Offer Shares) representing 12.86% of the share capital of the Company, giving a total free-float of 16.23%. The market capitalisation of BG Agro estimated at the shares’ Offer price will be BGN 67.4 million.
In this rather tough for the Bulgarian capital market year the Offering is regarded by professionals as a positive event. Trading with the Company’s shares on the Bulgarian Stock Exchange commences on 2 December 2009 at 9.30h local time with Ticker „АО0” and the deals for the transfer of the allocated shares will be executed on the same date.
BG Agro AD, Varna is a holding-type company set up in June 2007 in relation to corporate restructuring. BG Agro AD, together with its Subsidiaries (the “Group”), is a leader on the Bulgarian market in grains, one of the largest agricultural producers in the country and a leading exporter with more than 1.4 million MT of export of grain foods and oilseeds at present.
Currently the business of BG AGRO is structured in the following main directions: large-scale farming; trade in grain and oilseeds on the domestic and international markets; distribution of plant protection chemicals and fertilizers; storage and processing of agricultural produce; transportation of cargo for export or for the domestic market; accredited laboratory analysis of agricultural produce; forwarding services, ship agency services, hiring shipping tonnage for transportation by sea; investments in port activities.
Under the Consolidated Financial Statements of the Group its Sales for 2008 stand at BGN 79.13 million (compared to BGN 49.36 million in 2007), and its operating profit for 2008 is BGN 7.21 million (compared to BGN 5.58 million in 2007. |