On November 20, 2024, Agromat LLC, a national chain of tile and sanitary ware stores, fully placed a public issue of three-year Series I bonds for UAH 100 million.
According to the National Securities and Stock Market Commission of Ukraine, it approved the placement report on December 23.
“The funds to be received as a result of the public offering will be used by the issuer to expand its retail network,” the prospectus said.
According to the prospectus, the nominal interest rate on the bonds, which have three-month coupons, is set at 16.35% p.a. for the first year of circulation, and 3-months for the next two years. UIRD +5.45 p.p. (Ukrainian index of rates on deposits of individuals UIRD3-month +5.45 percentage points (p.p.).
The bonds with a nominal value of UAH 1,000 were placed at par through the PFTS exchange, with state-owned Ukrgasbank acting as the investment manager. The maturity date is from November 16 to 18, 2027.
The nominal interest rate of the previous issue of series H, registered by the National Securities and Stock Market Commission on September 6 this year, was set at 16.5% per annum in the first year of circulation. The bonds were placed between September 30 and October 2, and are scheduled to mature on September 27-29, 2027.
Almost simultaneously, on September 25, 2024, Agromat started to redeem UAH 100 million of G series bonds issued in 2021, which allowed the NSSMC to cancel the registration of this issue on October 24.
“Agromat is engaged in the production and sale of ceramic tiles and sanitary ware, registered in 1993. The issuer operates in 25 outlets, including 10 in Kyiv, including a specialized shopping center for the sale of ceramic tiles and sanitary ware with a total area of over 8 thousand square meters.
According to the prospectus, the company’s co-owners with 28.65% each are CEO Serhiy Voitenko, Oksana Reva and Anatoliy Taday, another 10.05% belongs to Olga Bashota and 4% to Nadiya Rusheliuk.
The company’s revenue grew by 13.5% to UAH 1 billion 506.74 million in the first half of this year, while net profit decreased by 2.8 times to UAH 15.62 million.
According to the prospectus, in 2024, Agromat wanted to increase its net income to UAH 3 billion 263.07 million, in 2025 – to UAH 3 billion 552.53 million, and net profit – to UAH 124.32 million and UAH 135 million, respectively, with assets of approximately UAH 2.64 billion and EBITDA of UAH 297 million.
