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Agrovalley Limited increases its shareholding in Industrial Milk Company to 68,78% stake

Agrovalley Limited is associated with Oleksander Petrov, the chairman of the board of IMC

Agrovalley Limited acquired 129 800 shares of Industrial Milk Company (IMC S.A) increasing its stake to 68,78% shares in circulation, according to the Warsaw Stock Exchange. The price per share stood at PLN 13,15 or USD 3,94 on the basis of the exchange rate of the National Bank of Poland, as of Feb 20.

To remind, Agrovalley Limited purchased a number of 25 605 shares of IMC S.A at the end of last year arriving at possession of 68,39% of the company shares.

Agricultural Industrial Milk Company specializes in growing of grains, oilseeds and potatoes along with its milk production in Ukraine. The company has storage facilities for 554 thousand ton of grains. IMC cultivates 136 600ha of land plots in Poltava, Chernigiv and Sumy regions of Ukraine.

IMC had plans to invest USD 20mln in expanding its lands, as we wrote in November last year.

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