Agrovalley Limited, controlled by the chairman of the board of directors of IMC agricultural holding, Oleksandr Petrov, on December 28, 2018 acquired 156,500 shares of IMC S.A. (Luxembourg). According to a report by IMC on the website of the Warsaw Stock Exchange (WSE), the purchase price of one share was PLN12.8 ($3.41 at the rate of the National Bank of Poland on January 7). Agrovalley Limited after the transaction increased the total stake to 23.962 million shares.
IMC specializes in cultivation of grains, oilseeds and milk production in Ukraine. The agricultural holding cultivates about 130,000 hectares of land in Poltava, Chernihiv, and Sumy regions. It owns facilities to store 554,000 tonnes of grains and oilseeds.
IMC agroholding on May 20 completed the spring campaign sowing 105,200 ha with crops.
The company said in a press release that this year, 69,500 ha of corn, 23,800 ha of sunflower, 11,000 ha of soybean and 900 ha of fodder crops were sown.
“In the current year, weather conditions, especially excessive soil moisture due to significant precipitation in winter and in March, forced us to begin spring field work 10 days later than planned. At the same time, all the work, namely the fertilizing of winter crops, the introduction of mineral fertilizers for spring crops, the closing of moisture and sowing were started almost simultaneously. However, the well-coordinated work of all production departments, the use of highly efficient machinery (including those acquired in the current season), the expansion of the use of advanced technologies of precision farming, made it possible to sow spring crops for the period, 15% shorter than in the previous year,” Chief Operating Officer of IMC Oleksandr Verzhykhovsky said.
IMC focuses on cultivation of grains, oilseeds and potatoes. It is one of the largest milk producers in Ukraine. It owns a storage capacity of 554,000 tonnes of grains and oilseeds. Its land bank is 129,600 ha in Poltava, Chernihiv and Sumy regions.
