| CATEGORY: NEW ISSUES |
Ukraine's KDD plans AIM float |
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Wed 21 Nov 2007
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LONDON (SHARECAST) - KDD Group, the holding company of one of Ukraine's leading real state investment and development groups, plans to float on London's Alternative Investment Market.
The group, which holds a diversified portfolio of real estate projects including offices, residential complexes and retail centres, said it intends to use the net proceeds from the offering primarily to finance the construction of its eight current projects and fund additional acquisitions of properties and land plots.
“Our admission to AIM will allow international investors to participate in potential growth opportunities in the Ukrainian real estate market,” said KDD’s president Petro Slipets.
“We believe that our focus on developing large, groundbreaking projects, which combine global best practice standards and cooperation with leading international firms, makes KDD a unique investment,” he added.
The group did not comment on the timing or financials of the offer, but said that the total estimated aggregate market value of its projects was $908.2m as at 30 September.
KDD has appointed ING and Renaissance Capital as joint-global coordinators and bookrunners in relation to the offering. ING has also been appointed as the nominated advisor.
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