U.S. Trident Acquisitions Corp organized as special purpose acquisition company (SPAC) held an initial public offering (IPO) on the NASDAQ stock exchange and raised $201.25 million. According to a posting on the company’s website, a total of 20.125 million units were sold at $10 per unit. Each unit consists of one share of common stock and a warrant to purchase one share of common stock. Both units and its parts could be traded. U.S. Chardan Capital Markets organized the deal.
Trident Acquisitions Corp COO Oleksiy Tymofeyev (former head of Smart-holding) wrote on his Facebook page that over 400 international investment funds took part in the placement.
The IPO for SPAC units foresees the placement of the raised funds on the account of a special trust until the object of the deal is identified (merger, acquisition, share exchange, purchase of shares and other transactions). The issuer intends to invest the raised funds in acquisition of energy assets in Eastern Europe with focus on Ukraine. “I want to build a large vertically integrated Eastern European corporation in the sphere of minerals with the center in Ukraine,” ex-Russian Duma Deputy and Trident Acquisitions Corp Director Ilya Ponomarev said in an interview with the Ekonomichna Pravda publication. He also does not rule out the purchase of assets in Northern America.
At present, Trident Acquisitions Corp is studying the assets for deals. Later, the company with which Trident Acquisitions Corp will merge would be traded on NASDAQ.
According to the offering memorandum, Trident Acquisitions Corp was founded in March 2016. Initially U.S. VK Consulting, Inc., under control of Russian investment banker Vadim Komissarov, bought all shares in the company.
In April 2016, 35% of shares were bought by Ponomarev, 5.35% – Patimat Akhmedova, 5% close relative of Mikheil Saakashvili – Timur Alazania, Komissarov has 5%, 0.8% each were bought by Tymofeyev, former coal industry minister of Ukraine Viktor Topolov and Head of U.S. McLarty Associates Edward S. Verona.
Then some deals were signed and the co-owner of Ukrainian ATB-Market retail chain Gennadii Butkevych became the holder of 10% of the company.
“They are my friends and acquaintances. They all have very different shares. Timur Alazania – he helps us with international relations as one of the leaders of the UN Secretariat in the past. Viktor Topolov left the shareholders before the IPO. Butkevych, he is one of the five members of the board of directors, but this is only about 3.5% of the total value of the company,” Ponomarev said.
Trilateral negotiations of the European Union, Russia, and Ukraine on Russian gas transit via Ukraine after 2019 may begin in early July, according to European Commission Vice President Maros Sefcovic. “Time is a precious commodity. I hope to start working with Russia and Ukraine on the trilateral gas agenda in early July,” he wrote on Twitter. “Complex negotiations ahead,” Sefcovic wrote. He said in late May that the objective of these negotiations will be to determine details of gas transit via Ukraine after 2019 and guarantees of such transit.
Kyivsky cardboard paper mill (Obukhiv, Kyiv region), a leader in Ukraine’s pulp and paper industry in terms of production and sales, produced goods worth UAH 2.149 billion in January-May 2018, which was 18.4% up year-over-year. Thus, production in the first five months of 2018 somewhat slowed compared to the same period last year (production growth in January-April was 26.7% and in January-March 30%), the UkrPapir association said.
Corrugated packaging output grew by 11.2%, to 93.5 million square meters, which was the second highest result among producers of corrugated packaging in Ukraine after Rubizhne cardboard packaging mill in Luhansk region (with Trypilsky packaging plant).
Production of cardboard increased by 15.7%, to 85,400 tonnes. Production of package cardboard alone grew by 31%, to 58,900 tonnes, while box cardboard output fell by 8.2%, to almost 26,550 tonnes. However, production of base paper (for sanitary products) stood at 31,500 tonnes, which was the same as a year ago. Toilet paper output grew by 7%, to 174.9 million rolls. Corrugated packaging output in total in Ukraine (including other producers) grew by 8.4% January through May 2018, to 416.94 million square meters, that of paper and cardboard increased by 12.5%, to 395,650 tonnes.
Kyivsky cardboard paper mill is one of the largest cardboard and paper producers in Europe. It employs almost 2,200 people. It sells produce to almost 700 companies in Ukraine, some CIS member states and the rest of the world. In 2017, the mill saw a 14.8% rise in production from 2016, to UAH 4.85 billion.
The Infrastructure Ministry of Ukraine and Hyperloop Transportation Technologies have signed a memorandum of understanding and cooperation on the Hyperloop project, the Ministry of Infrastructure has informed. During the public discussion “Hyperloop in Ukraine” with the participation of Hyperloop Transportation Technologies CEO Dirk Ahlborn and Minister of Infrastructure Volodymyr Omelyan, a memorandum of cooperation was signed, as well as the issues related to the development of high-speed transport (in particular, the Hyperloop transport system), the introduction of innovations and artificial intelligence systems in transport industry were considered.
Omelyan noted Ukraine should enter the world’s mainstream in developing advanced technologies in transport.
“Hyperloop is the next generation transport that will give the world unprecedented speed, possibilities, and technologies. One of the results of Ahlborn’s visit was our clear intention to work together to develop these new technologies,” the minister said.
He expressed hope that a center will soon be opened that will deal not only with Hyperloop but with new materials, new components of modern transport.
The parties agreed on joint development of technologies, joint search for investors for this project.
Hyperloop Transportation is one of the first companies that showed interest in the Hyperloop high-speed transport project. The company already has contracts for the design and construction of high-speed transportation lines with France, Slovakia, Austria, Hungary, the United Arab Emirates, and others.
Source: Central Bank
