OREANDA-NEWS. On 06 August 2008 was announced, that Concorde Capital has successfully completed the private placement of a 15% equity stake in Sintal Agriculture Public Limited for USD 34.5 mln. The Company’s MCap totaled USD 230 mln at the placement and over the first two trading days it grew by more than 15%.

The Company’s shares were listed on the Frankfurt Stock Exchange on 5 August. Concorde Capital acted as lead manager and sole bookrunner of the placement.

Sintal’s shares are traded as global depositary receipts issued by the depositary Deutsche Bank. The total number of GDRs is 4,941,300 mln, with a par value of USD 6.98 each. More than 30 large foreign institutional investors, mainly from continental Europe, Great Britain and Russia participated in the offering.

Igor Mazepa, Concorde Capital’s CEO, explains strong interest in the company from foreign investors primarily by Sintal’s quality management and clear development strategy. According to Sintal’s CEO Vadim Mogila, “favorably located land plots and efficiently planned crop rotation allow the Company to use fewer agricultural machines in land cultivation; irrigation systems in Kherson region facilitate collecting two harvests per year – such experience is unique in Ukraine. Farms’ infrastructure has clear export focus, which will allow us to significantly increase our grain sales in the near future”.

Sintal will use the proceeds from the placement to expand its land bank, purchase additional agricultural equipment and acquire new elevators, allowing the Company to receive extra revenues from grain trade, as well as to replenish its working capital.