FIRST UKRAINIAN COMPANY JOINS AIM
(08:00 - London)
The London Stock Exchange today welcomed UKRproduct (UPG), the first Ukrainian trading group to be admitted to AIM, the London Stock Exchange’s international market for smaller, growing companies.
UPG is Ukraine’s leading branded foods company and is the first company from the Ukrainian food and beverage sector to launch an IPO on a public market. The company is raising approximately £5.0 million (net of expenses) through the placing of 11,214,953 new Ordinary Shares, which will be used amongst other things to invest in new plant and equipment as well as expanding the group’s distribution network.
To celebrate the occasion, Sergey Evlanchik, Chief Executive of UPG, and Jack Rowell, non-Executive Chairman, marked the opening of the day’s trading in London by switching on ‘The Source,’ a specially commissioned artwork in the main atrium of the London Stock Exchange’s new building in Paternoster Square.
Martin Graham, Director of Market Services and Head of AIM, said:
“We are delighted to welcome UPG to London and the heart of Europe’s capital markets. UPG’s IPO demonstrates to other smaller growing companies from Central and Eastern Europe that they can successfully raise capital on AIM.”
He continued:
“London is the only global financial centre that offers a complementary choice of public markets. AIM is the world’s most successful growth market and is a key component of London’s overall international equity market offering.”
Jack Rowell, non-executive Chairman of UPG, commented:
“We are delighted to have completed this placing and admission to AIM. In its transition from a private to a publicly quoted company admission to AIM, the first for a Ukrainian trading group, represents a great milestone for UPG.”
Sergey Evlanchik, Chief Executive of UPG, commented:
“The successful admission of UPG reflects the confidence our investors have in the Company. We hope that the momentum gained from admission will continue to help UPG build on its track record of profitable growth as well as consolidating and expanding on its position as a domestic market leader.”
In 2004 the London Stock Exchange attracted a total of 226 IPOs to AIM, with AIM alone accounting for 68 per cent of all IPOs in Western Europe. At the end of January 2005 a total of 120 international companies were listed on AIM, out of a total of 1,035 companies currently on the market.
For further information, please contact:
Anya Velzeboer Press Office +44 (0)20 7797 1222
pressoffice@londonstockexchange.com
Notes to editors:
• UKRproduct Group (UPG) is one of Ukraine's leading producers of branded foods. Headquartered in Kiev and registered in Jersey, the company's main business focuses on the production and distribution of branded food products, namely packaged butter and processed cheese, to wholesale and retail outlets in Ukraine through its own distribution network. UPG also produces dried-milk powder for export to countries across Europe as well as the Far East. UPG’s sales for the year ended 31 December 2003 more than doubled to £17.59m with profits before exceptional income and taxation of £1.012m.
• W.H.Ireland Limited is acting as Nominated Adviser and Broker to UPG as well as joint placing agent together with Metropol (UK) Limited. For media enquiries related to UPG’s business, please contact:
Financial Dynamics:
Benjamin Foster +44 (0) 207 831 3113
Charles Watenphul
• About the London Stock Exchange:
The London Stock Exchange is one of the world’s foremost equity exchanges and a leading provider of services that facilitate the raising of capital and the trading of shares.
The London Stock Exchange is the most international equities exchange by trading in the world and Europe's largest pool of liquidity. By the end of 2004, the market capitalisation of UK and international companies on the London Stock Exchange’s markets amounted to £3.5 trillion, with £4.7 trillion of equity business transacted over the year.
The London Stock Exchange is a Recognised Investment Exchange (RIE) under the Financial Services and Markets Act 2000 and is supervised by the Financial Services Authority.
• Pictures of the market opening ceremony will be available from 9:30am (London time) on Friday 11th February. To obtain pictures please contact:
Anya Velzeboer Press Office +44 (0)20 7797 1222
avelzeboer@londonstockexchange.com
• For more information on AIM please visit: www.londonstockexchange.com/aim