October 31, 2007

Ukraine's Kernel Holding plans IPO

Ukrainian producer of sunflower oil and grain exporter Kernel Holding, plans to list on the Warsaw Stock Exchange in the next few weeks, the company announced.

The company plans to use proceeds from the IPO to finance its investment plans, which include increasing its market share in bottled oils, increasing productivity in the firm's existing plants as well as building a new stamping press to produce oil from different plants,

In the financial year 2006/2007 Kernel had revenue of US$ 350 million, with net profit at US$ 19.5 million.