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Ukrainian MHP plans London float

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Date: Tuesday 15 Apr 2008

LONDON (ShareCast) - Mironovskiy Hleboproduct (MHP), a leading poultry producer in Ukraine, plans to float on London’s main market.

The company did not say how much cash it hopes to raise, but newspaper reports suggests it is looking to raise up to $500m to fund its expansion.

MHP is one of the leading agro-industrial producers in Ukraine, focusing on the production of chicken and the cultivation of grain.

In 2007, the group had revenues from continuing operations of $478m and EBITDA of $164m. As at 31 December, total assets were $953m.

“Admission to the London Stock Exchange represents the next logical step in MHP's development and will assist in achieving its ambitious growth plans,” said chief executive Yuriy Kosyuk.

“I am very excited that MHP is so well placed to benefit from that growing demand. MHP presents an excellent investment opportunity and I am looking forward to taking the company forward in this new and exciting direction,” he added.

Morgan Stanley and UBS are the joint global coordinators and joint bookrunners for the global offering.