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4 August 2008

Sayenko Kharenko advised Mriya Group on USD 90 mln private placement

Sayenko Kharenko advised Mriya Group, one of the largest agribusinesses in Ukraine on its USD 90.1 mln private placement. The transaction involved the placement of 4.25 mln Global Depository Receipts (GDRs) through The Bank of New York at a rate of 5 GDRs per company share. Each GDR is valued at $21.20, with trading in the GDRs to take place on the Frankfurt Stock Exchange beginning July 1.

More than 35 foreign investment funds and portfolio investors from Western Europe, the United States, Russia and Ukraine took part in the placement. Mriya Group has quickly emerged as one of Ukraine’s leading agribusinesses and will use the placement proceeds to bring the company’s total land holdings to 190,000 hectares (ha) by end-2008, as well as to further develop company infrastructure, such as constructing grain elevators and new equipment purchases for its farming operations in Western Ukraine.

Sayenko Kharenko team included associates Svitlana Harmash and Olga Lubun led by partner Mykola Orlov. Sayenko Kharenko enjoys a wide reputation for its work in equity capital markets. The firm advised on all IPOs by Ukrainian companies in 2008 as well as on a number of successful private placements by the largest Ukrainian corporates.

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