Linas Agro Group Plans Initial Public Offering on 25th of January 2010
OREANDA-NEWS. January 08, 2010. One of the biggest groups of agricultural enterprises in the Baltic States - Linas Agro Group, AB is planning to start trading in its stock on NASDAQ OMX Vilnius Stock Exchange. The 25th of January is the planned day of launching the initial public offering, during which 35% of the shares of Linas Agro Group, AB are expected to be sold. Today, on the 7th of January, the company’s initial public offering prospectus was approved by the Securities Commission of the Republic of Lithuania.
The initial public offering is planned to take place from the 25th of January till the 5th of February. The first day of trade in the shares of Linas Agro Group on the stock exchange is planned to be the 17th of February.
In total, the investors will be offered 55 629 140 shares. The price interval of the offer varies in the range of LTL 2.05 to LTL 2.53 per share.
The initial public offering will take place in Lithuania and Estonia, the shares will also be offered to institutional investors in the Baltic States, Nordic countries and Western Europe. Organiser of the initial public offering of the shares of Linas Agro Group and authorised dealer is Swedbank.
According to the CEO of Linas Agro Group, AB Mr. Darius Zubas the company has been an active capital market player for a few years by now and was one of the first Lithuanian companies to offer bonds to Lithuanian investors and the first company to offer them to foreign investors. “All these steps enabled us to develop and to consolidate our positions on the international markets. Having decided to make public offering of the company's stock to the investors, we keep aspiring consolidation of our positions on the markets and enhancement of the competitiveness of the export of Lithuanian agricultural sector”, stated Mr. Zubas.
Order to buy shares of Linas Agro Group, AB can be placed at the Swedbank customer care units listed in the prospectus, as well as by Swedbank internet banking channel (ib.swedbank.lt), by selecting subsection Subscription in the Saving and Investment section, or by phone calling directly the Shares Trade Division of Swedbank, phone +370 5 258 2505. Prospectus and other necessary information is available on the company’s website (http://www.linasagro.lt) , Public Offering section.
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