Sayenko Kharenko has acted as a Ukrainian legal counsel to ING and Renaissance Capital, the joint-global coordinators and bookrunners of the initial public offering of shares by KDD Group N.V. (“KDD”), the holding company of one of Ukraine’s leading real estate investment and development groups.
The shares were admitted to the Alternative Investment Market of the London Stock Exchange at the offer price of 200 pence per ordinary share, thus assuming the market capitalisation of KDD at the commencement of dealings to be approximately GBP 323.8 million (USD 660 million). The offering comprises 31,878,371 new ordinary shares, which represents in aggregate approximately 19.6 per cent of the KDD’s enlarged issued ordinary share capital and a total offer size of approximately GBP 63.8 million (USD 130 million). KDD will use the net proceeds from the IPO to finance the construction of eight current commercial and residential projects in Kyiv and Lviv with a total area of approximately 2.7 million square meters.
Sayenko Kharenko IPO team was led by partner Michael Kharenko who was assisted by Taras Pryhoda, Nazar Chernyavsky and Igor Lozenko. Vladimir Sayenko, Dmytro Taranyk and Valentyna Hvozd assisted with antitrust matters related to pre-IPO restructuring. Recently, the firm advised Concorde Capital on the IPO of another leading real estate developer in Ukraine (TMM), and currently works on a number of major IPOs in real estate, finance, food and steel industries