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16 May 2006
16/05/2006 The London Stock Exchange welcomes OJSC Cherkizovo Group to the Main Market

16 May 2006

The London Stock Exchange is delighted to welcome OJSC Cherkizovo Group to the Main Market.


 


OJSC Cherkizovo Group is one of Russia’s leading integrated and diversified meat producers. Cherkizovo Group operates modern meat processing and poultry production, processing facilities and pig farms, in addition to a broad distribution network throughout the European part of Russia. Cherkizovo Group’s principal brands include “Cherkizovsky” and “Petelinka.”


The sale by one of Cherkizovo Group’s shareholders raised US$251 million through the initial public offering of ordinary shares in the form of global depositary receipts and ordinary shares, and valuing Cherkizovo Group at approximately $904.1 million.


Cherkizovo Group will utilize the proceeds to it of a concurrent
additional share issuance to finance potential acquisitions of meat processing and poultry assets, to repay indebtedness and to invest in the development of its pork business.


Sergey Mikhailov, CEO of Cherkizovo Group, commented:


“We are pleased to be listed on the Main Market of the London Stock Exchange and view the listing as an important step, which enables Cherkizovo Group to access international capital and thus to advance our investment and growth programs.”


Renaissance Capital acted as sole Global Coordinator and Bookrunner, and Gazprombank and URALSIB Capital acted as co-Lead Managers of the offering.


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