15/12/2005 The Exchange is delighted to welcome XXI Century to AIM
15 December 2005
The London Stock Exchange is delighted to welcome XXI Century to AIM.
XXI Century is one of Ukraine’s leading property development companies, with a focus on Ukraine’s capital, Kyiv. The company was founded in Kyiv in 1995, and it develops and manages a diversified portfolio of real estate assets comprising shopping centres, high-end residential complexes and commercial properties.
XXI Century is one of the first companies from the Ukraine to achieve an international IPO and one of several to join our markets in 2005. The company raised $121m through an Initial Public Offering of shares and GDRs, through a primary listing on the AIM market of the London Stock Exchange. The offer price of $10.40 represents a market capitalisation of $370m at admission.
The company will use the proceeds of the IPO to accelerate the development of its existing property assets in Kyiv, including five additional shopping centres in the region of Kyiv by the end of 2009, a further two residential developments by 2007 and 350-room four star hotel complex.
XXI Century is committed to international standards in all aspects of its business. Joining AIM on the London Stock Exchange reflects this commitment, as a means of accessing global capital and integrating with European equity markets.
Mr Lev Partskhaladze, Chairman and Founder of XXI Century said:
“Our admittance to AIM on the London Stock Exchange is a very important step forward for XXI Century. We are proud to be one of the first Ukrainian companies to gain an international listing and are delighted by the positive response to our Offer from international investors. With their support we intend to continue to realise the great opportunities in Kyiv and Ukraine, which we believe are among the most promising in Europe”.
ING is acting as Nominated Adviser and as Broker to the Company.