Global Emerging Markets opened PLN 75 M credit line for KSG Agro
2012-05-08 15:11:43
U.S.-based investment fund Global Emerging Markets Limited (GEM) opened PLN 75 M for Ukrainian Agro holding KSG Argo for the duration of 3 years. Visum Capital was financial advisor which stated that KSG Agro will most likely emit shares for GEM which will later be transferred into ordinary shares with 1:1 ratio. According to the rules of the contract KSG Agro will have the right to demand share purchase from GEM over the next 3 years. Part of the shares is evaluated at PLN 35 per share, while other part of the shares is evaluated at PLN 40 per share.
AgroInvest comment: KSG Agro took third place in terms of funds attracted during 2012, reaching the total value of USD 37 M attracted this year. We expect those funds to be used for company’s development including increase of land bank and modernization of facilities.
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