Cyprus Prime One Capital Limited, major stockholder of Ovostar Union stated that it will undergo private placement of 8% of its shares for institutional investors. Company is planning to use funds received to purchase the same amount of shares in Ovostar Union at the same price. It is also stated that the company might sell additional 2% upon demand. There are 520 K shares that will be issued at the current price of 90 PLN per share. Ovostar Union will use attracted funds for its new investment program which was mentioned in the annual report of the company.

AgroInvest comment: Ovostar Union opens the season of attracting funds via share placements and we expect more companies use such approach as the summer is seen as the most active period for such transactions.

For more detail please refer to the UAIndex Daily (May 22 issue).

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