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Date: Friday 18 Apr 2008

LONDON (ShareCast) - Ukrainian poultry producer Mironovskiy Hleboproduct (MHP) announced this week that it 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.

Russia's largest privately owned freight rail operator Globaltrans Investment could be worth almost $1.8bn when it floats in London after pricing its IPO.

The firm set an indicative range of $11.50 to $15.00 per global depositary receipt (GDR), with each GDR representing an interest in one share.

Almost 34m GDRs are being offered, made up of new shares and GDRs sold by Transportation Investment Holding and Envesta Investment, which could net up to $509m.

“We look forward to meeting investors on our forthcoming roadshow, when we can introduce them to the fast-growing private rail freight industry in Russia, which is a new and exciting sector in the economy,” said Globaltrans boss Sergey Maltsev.

“Following the IPO we intend to invest further in our rolling stock, in order to expand our business into other high margin segments, such as building materials.”

Egyptian real estate developer Palm Hills Developments plans to raise as much as $392m when it starts trading in Cairo and London.

The company set an indicative price range of 19.25 to 25.00 Egyptian pounds per share and $17.72 to $23.01 per GDR, implying an offer size of between 1.6bn and 2.1bn Egyptian pounds or $302m and $392m.

The market value will be as much as 11.6bn Egyptian pounds or $2.1bn. Pricing is expected to be set on or around 29 April.

Palm Hills said it intends to use the proceeds to fund its existing and future development projects and to expand its land bank both in Egypt and abroad.

“The global offering gives investors the opportunity to invest in one of Egypt's leading real estate developers with a strong track record, a well respected brand and one of the largest land banks held by any developer operating in the Egyptian market,” said chairman and chief executive Yasseen Mansour.