Agria Group Hold Is Planning A Bourse Listing
Shareholders in Agria Group Holding will vote a proposal to list the company on BSE at a general meeting scheduled 28 September.
The company's own capital stands at 17.206 mln leva (8.797 mln euros), according to December 2006 data provided by the management.
The holding's revenue stood at i26.468 mln leva in H1, which is 56% of sales for the entire 2006 (47,366 mln leva, 24.217 mln euros).
Sales revenues in H2 are expected to top prognosis due to the seasonal character of the activity of some of the subsidiaries in the group.
According to prognosis, Agria Group Hold's 2007 profit will be in the amount of 1.788 mln leva (914,189 euros) with revenue in the amount of 48.749 mln leva (24.924 mln euros).
According to preliminary data provided by the Board of Directors and investment intermediary CB United Bulgarian Bank AD Sofia, the company's prospectus will be filed with the Financial Supervision Commission in October.
In December the company will IPO the shares from the capital increase in compliance with POSA.
The company will use the funds raised to increase the capital of its subsidiaries, which are planning acquisitions in the sector, as well as to ensure the successful implementation of its investment program for the period 2007-2012.
Agria Group Hold Ad Varna and its subsidiaries Popovo-based Kristera AD, Devnya-based Agro, Varna-based Agro, Varna-based Corn Bread-Making Plant, Shumen-based Corn Bread-Making Plant, Targovishte-based Corn Bread-Making Plant, and Varna-based Corn-K , operate on the following fields: food industry, manufacturing industry (mainly grain processing), and agriculture.
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