Cherkizovo Group Announces Intention To Float On Moscow Stock Exchange
Meat producer Cherkizovo Group has announced plans to place an offering of its ordinary shares on the Moscow Stock Exchange.
The offering will ‘provide investors with an opportunity to participate in the growth and returns of a leading consumer-oriented food company with some of the strongest poultry and processed meat brands in Russia’, the company reported.
The offering will include a primary component, consisting of an offering of 2,916,759 treasury shares (6.6%) held by the company and new shares issued by the company, and a secondary component, consisting of shares sold by the existing shareholders.
Following the offering, the controlling Mikhailov family intends to maintain strategic control over the company by retaining majority ownership, the company reported.
Cherkizovo Group is the largest diversified meat producer in Germany, with leading positions in poultry and pork.
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: European Supermarket Magazine.