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Allseeds plans to list abroad: ceo
Posted on Wednesday, 10 October 2018 13:50
Ukrainian multi seed oil extraction plant operator plans to conduct an initial public offering (IPO) outside its home country, according to the company’s chief executive.
Speaking in an interview with Reuters, Viacheslav Petryshche said the firm intends to float within the next few years and is looking at Singapore, Hong Kong and Toronto as potential destinations.
However, he declined to specify any reasons for why it will not list at home.
Petryshche told Reuters that, from a structural standpoint, Allseeds is ready to go public.
The news provider also spoke to Dan Pasko, co-managing partner at the firm’s shareholder, Diligent Capital Partners, who said a listing would be in line with the group’s expansion strategy, in which it states its goal of becoming an agri-processing and logistics hub.
He added that this would require investment of more than USD 200.00 million over the next few years.
According to its website, Allseeds is one of the largest manufacturers and exporters of vegetable oils and meals in the Ukraine.
It also provides vegetable oil and oilseed meal transhipment services.
The company’s processing plant has the capacity to produce 2,400 metric tonnes of sunflower seeds per day and it operates two offices, including an international location in Geneva.
Zephyr, the M&A database published by Bureau van Dijk, shows there have been three IPOs worth a combined USD 13.00 million by soybean and other oilseed processing companies announced worldwide since the beginning of 2018.
Last year, there were four such transactions with an aggregate value of USD 66.00 million, while the sector’s busiest years on record for listings were 2015 and 2016, each of which saw five announced flotations.
Of those signed off in 2018 to date, the largest featured an Indonesian company as Mahkota Group went public on the Indonesia Stock Exchange.
The other two firms in the sector to have announced IPOs this year are Indonesia-based Narmada Agrobase and Chinese player Heilongjiang Blue Ocean Biology Protein Company.
© Zephus Ltd