Cereal Planet will be the second company from Ukraine to list on NewConnect PDF Print E-mail
Friday, 27 September 2013 11:29


Cereal Planet  Cereal Planet will be the second company from Ukraine to list on NewConnect

Cyprus-registered food group which operates primarily in eastern Ukraine is preparing for a listing on NewConnect. The IPO of Cereal Planet on the WSE?s alternative trading platform is possible as early as October. After Agroliga, it will be the second company from Ukraine to list on NewConnect.

Cereal Planet PLC, a company involved in, among other things, production and trading in grains and cereals, will soon list on WSE?s alternative market. It has closed a small (PLN 0.5m) private offering addressed primarily to Polish individual investors. ?We haven?t decided to proceed with a large offering; we want the investors to get to know us better and learn to appreciate our potential thanks to our presence on the stock exchange. Depending on the valuation, further on we may decide to gain a larger amount from investors,? says Anatoly Vlasenko, general manager at Cereal Planet.

Cereal Planet will be the first Ukrainian company on that market to represent food processing industry. Up until now, the majority of companies from Ukraine listing both on the alternative and on the regulated market were farming companies that were focusing on primary agricultural production. Cereal Planet?s business model is based on the supply of finished, processed production, which translates into higher margins.

Cereal Planet estimates its investment program at almost EUR 3.7m. The group is planning to expand and upgrade its mixes and grain cereals, buckwheat, millet, barley and oatmeal cereal production plant at Belokolodezanskiye near Kharkov. ?We have decided to list on the Polish stock exchange because many Ukrainian companies have already used it successfully to gain growth financing. We believe that the production-trading business profile of Cereal Planet will be an interesting supplement to the portfolios of investors active on NewConnect, as well as those present as shareholders of Ukrainian companies from the WSE?s main market,? says Anatoly Vlasenko, the general manager and one of the shareholders of Cereal Planet.

The company is being prepared for the IPO by the Warsaw-based advisory Progress Holding. In 2011 this adviser has listed farm company Agroliga, the first Ukrainian issuer to float on NewConnect.


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