Russian Federation : Russia. Pava seeks to raise $100 mln in share offering
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Russian agricultural company Pava is seeking to raise over U.S. $100 million in a private share offering, RBC Daily reported Monday citing sources on the financial markets.
The company is seeking to raise funds for the implementation of two projects - construction of a plant for deep processing of grain and purchase of land, one of the sources said.
Pava is considering selling a stake in a private share offering as an instrument to raise funds for its projects, the company's representative Darya Korytina told the daily. The company has been holding talks for a long time, but it is still early to speak about concrete results, she said. The company's management has held a great number of meetings, including with investors from the Persian Gulf, China, and Europe, she also said.
The agricultural company is seeking to sell stakes in two of its subsidiaries - Global-Agro and Grain-Holding, the daily said.
Pava has been trying to attract funds for financing the company's development for several years already. The company raised $8 million in an initial public offering (IPO) in 2005 and wanted to make an offering on the London Stock Exchange in 2007-2008, but then decided to find investors interested in its private placement, the daily said.
Analysts say it will now be quite problematic to find investors amid falling markets and just before summer vacations.
11.06.2010, 2057 просмотров.
