The Board of Directors of the Ukrainian agricultural holding KSG Agro has sold 700 thousand shares owned by the company to a new partner in accordance with the company’s development strategy and in order to increase the participation of new investors in new projects.
“KSG Agro still owns 800 thousand shares in the company,” the agricultural holding said in a statement on the Warsaw Stock Exchange (WSE).
The name of the new partner was not disclosed.
Taking into account the total number of shares, it means the sale of 4.66% and retention of 5.33% of the company’s shares.
On Thursday, KSG Agro’s share price on the WSE decreased by 0.25% to PLN4.07 per share ($1.05 at the current exchange rate), which corresponds to a capitalization of PLN60.53 million ($15.62 million).
As reported, KSG Agro in February this year announced the purchase of 10% of its own shares from its major shareholder Olbis Investments Ltd, Sergey Kasyanov, to diversify and expand its investment activities in the EU markets. Olbis Investments’ stake is now 47.97%.
In January-September 2024, KSG Agro agricultural holding generated $16.8 million in revenue, up 41% year-on-year. Its EBITDA for the three quarters of last year decreased by 4% to $4.38 million, and its net loss amounted to $0.8 million against a net profit of $1.34 million for the same period in 2023.
