Prime One Capital Limited, the majority shareholder of Ovostar Union, controlled by CEO Boris Belikov and Chairman of the Board of Directors Vitaliy Veresenko, has reduced its stake from 67.93% to 65.93% of the authorized capital.
According to the agricultural holding’s announcement on the stock exchange, the deal to sell 120 thousand shares took place on September 29 at a price of PLN70 per share ($15.87 at the current exchange rate), while the current exchange rate is PLN61.5 per share.
It is specified that Prime One Capital now owns 3 million 956.046 thousand shares.
As reported, the international insurance group Fairfax Financial Holdings (Canada) increased its stake in Ovostar from 17.499% to 27.51% following the transaction on September 13, while the pension fund Generali OFE managed by Generali Powszechne Towarzystwo Emerytlane S. A., which owned 10.93% of the shares.
In this regard, the shares of Ovostar, one of the leading producers of eggs and egg products in Ukraine, were excluded from the list of index participants after the September 26 session: WIG, WIG-CEE, WIG-food and WIG-Ukraine.
“Ovostar no longer meets the criteria of the above indices, as the share of its shares in free-float is less than 10%,” GPW Benchmark said.
As a result, only six issuers remained in the WIG-Ukraine country index, with two accounting for more than 80% of the index basket: “Astarta – 47.083% and IMC – 34.888%, while Ovostar’s share before the exclusion was 19.158%.
The WIG-Ukraine index began to be calculated on May 4, 2011. The base level of 1000 points was taken as December 31, 2010. The WIG-Ukraine is a total return index, so its calculation takes into account both share prices and income from dividends and subscription rights. The index currently stands at 246.6 points.
“In mid-June 2011, Ovostar Union conducted an IPO of 25% of its shares on the WSE at PLN62 per share and raised $33.2 million.
In the first half of 2023, the holding earned $20.63 million in net profit, while it ended the same period in 2022 with a net loss of $19.78 million. Revenue increased by 56.8% to $88.69 million, mainly due to higher prices for its products.
Withine Investments LTD (Cyprus), belonged to MP Vadim Novinsky, on November 13, increased its stake in Unex Bank (Kyiv) to 100% from 94.979975%, according to the information disclosure system of the National Securities and Stock Market Commission.
As reported, Flot Express LLC, owned by Dmytro Yeltyshev, a partner of MP Vadim Novinsky in a number of companies, in September squeezed out the shares of Unex Bank from minority shareholders for the amount of UAH 0.32 with a nominal value of UAH 1.
According to the bank’s report in the information disclosure system of the National Securities and Stock Market Commission, Flot Express with its 4.3638% acted jointly with Withine Investments Ltd.
At the end of August, the companies announced the merger of their stakes, thus entering into ownership of the dominant stake (over 95%) – 99.3438% of the charter capital of the financial institution, or 290.084 million shares out of 292 million of all bank shares.
According to the NBU, as of October 1, 2020, Unex Bank ranked 64th in terms of total assets (UAH 796.827 million) among 74 banks operating in the country.
Australia’s Warana Capital Pty Ltd in 2018 became a minority shareholder of Volia Cable LLC (Kyiv).
According to data on the ownership structure posted on the provider’s website at the end of March of this year, in 2018 Warana Capital Pty Ltd acquired 5.6% of the shares in Volia. Among the new investors of the company is also OL Group Ltd (acquired 8.4%), registered in the Cayman Islands.
At the same time, Eton Park Master Fund Ltd (the Cayman Islands) sold its 5.9%, and Elq Investors II Ltd (London) sold 8.4%.
The press service of the company told Interfax-Ukraine on May 13 that the change of minority shareholders took place in the autumn of 2018.
The key investor of Volia is still the U.S.-based investment company Providence Equity Partners with 34.92%.
Large stakes are also held by SigmaBleyzer (the United States, 15.3%), and the European Bank for Reconstruction and Development (11.7%).
Warana Capital Pty Ltd (Sydney) is a subsidiary investment company of the American company Warana Capital LLC (New York), based in Australia.
Emerging Europe Growth Fund III, LP (EEGF III) of Horizon Capital has acquired a minority stake in a leading private medical chain in Kyiv city and region – Dobrobut, the company reported on Wednesday.
“Our plans require investment and expertise. Horizon Capital’s capital, knowledge and experience are pivotal in supporting our ambitious strategic plans,” Oleg Kalashnikov, CEO of Dobrobut, said.
According to him, in the nearest future Dobrobut will open another medical facility in Kyiv, 10,000 sq m, which will offer top-notch surgery, oncology and cardiology services.
Horizon Capital’s Founding Partner and CEO Lenna Koszarny said that Horizon Capital’s entry into this strategic sector, together with the backing of our global institutional investors, will play a significant role in the development of healthcare in Ukraine, as it brings capital, transparency, world-class equipment and best practices to this industry.
The participants in the transaction do not disclose its terms, however, Kalashnikov said that “it is not about selling part of the business, this deal is about increasing capital and supporting growth.”
“We have ambitious plans to further develop the company, including opening new clinics, expanding the scope of medical services offered and mastering new skills,” he said.
At the end of March, the Antimonopoly Committee of Ukraine reported that Cypriot Dealbeta Investments Limited, created by Emerging Europe Growth Fund III (EEGF III) managed by Horizon Capital, jointly with an individual-citizen of Ukraine, plan to acquire a controlling stake in Cypriot Satumco Limited, the owner of Dobrobut.
In January 2019, The Antimonopoly Committee of Ukraine began probing into the acquisition by Cypriot-based Satumco Limited, the owner of Kyiv’s largest private medical chain Dobrobut, of the Boris Clinic, one of the oldest private clinics in Kyiv.
The Dobrobut Medical Center was established in 2001 and previously included branches in Donetsk and Yalta, but now its assets are located in Kyiv and it grew to a large chain. In particular, it currently includes an emergency station, children’s clinics on the right and left banks of Kyiv, clinics for adults on the right and left banks, a hospital for adults and children, pediatric and adult surgery departments, a medical diagnostic center, the Dobrobut Oncology Center, as well as the center of clinical neurology, neurorehabilitation and rehabilitation medicine.
In January 2018, a group of investors from the Concorde Capital investment company and shareholder in the Luxoptica chain of optical stores Oleh Kalashnikov acquired 80% of the Dobrobut chain from UBG (both based in Kyiv). The owner of the UBG corporation was MP Ruslan Demchak (Bloc of Petro Poroshenko parliamentary faction), who retained a 20% stake in the chain.
Currently, according to the public register, Satumco Limited owns 99% in many companies of the chain (Dobrobut Emergency Aid LLC which revenue in 2017 was UAH 38.5 million, Dobrobut Polyclinic Center with UAH 347.8 million, Dobrobut Statsionar Center (in-patient facility) with UAH 48.9 million, Dobrobut Medical Center for Children with UAH 73.6 million, Dobrobut Dytynstvo (Childhood) Center with UAH 22.2 million) and its beneficiaries are owner and head of Concorde Capital Ihor Mazepa and Luxoptica shareholder Oleg Kalashnikov.
In January 2019, Horizon Capital announced that Horizon Capital created the largest equity fund in Ukraine over the past 10 years: EEGF III with $200 million.
Horizon Capital was established in 2006. It manages private equity funds Western NIS Enterprise Fund (WNISEF, established in 1994 with a seed capital of $150 million), Emerging Europe Growth Fund, L.P. (EEGF, established in 2006 with a seed capital of $132 million) and EEGF II (EEGF, established in 2008 with $370 million seed capital). The money of these funds is invested in projects in Ukraine, Moldova, and Belarus.
Dragon Capital Investments Limited, a member of the Dragon Capital Group, and Dragon Capital New Ukraine Fund L.P. managed by the company led a new investment round and became minority shareholders in Ciklum, a global digital solutions company with major footprint in Ukraine.
According to a press release of Dragon Capital, AVentures Capital participated in the investment round and acquired a minority stake in the company.
The size of minority stakes of all three companies is not disclosed.
“We believe that ongoing global digital transformation will support increasing demand for IT solutions and services, and that Ciklum is very well positioned to capitalize on this sustainable trend. Founded in 2002 and headquartered in London, Ciklum has one of the largest footprints in Ukraine, great expertise and access to IT talent. We are enthusiastic about the opportunity to support one of the leading companies in the segment, which is run by great management and shareholders,” Managing Director, Co-Head of Private Equity at Dragon Capital Andriy Nosok said.
“We are excited to welcome Dragon Capital and Aventures Capital to our shareholder base. This investment will continue to propel Ciklum’s rapid growth in delivering cutting edge technologies to clients around the globe,” Chief Executive Officer of Ciklum Michael Boustridge said.
Dragon Capital group of companies was founded in 2000 and it is one of the largest on the Ukrainian investment market. It works in the field of direct investment and financial services, provides a full range of investment banking and brokerage services for corporate and private clients.
Dragon Capital New Ukraine Fund L.P. was created in November 2015. Dragon Capital manages the funds. Soros Fund Management (SFM) acts as the co-investor in the fund.
Ciklum is a leading global digital services and software engineering company founded in 2002. Ciklum provides services to design and test software, it is involved in innovative research and design, works with Big Data and engineering consulting services.
AVentures Capital was founded in 2012. It invests in IT companies at various stages of their development.
Horizon Capital managed fund has entered into a transaction to acquire a minority stake in Intellias, a leading IT services provider with operations in Ukraine, headquartered in Lviv. With this backing, Intellias will expand its operations in Eastern and Central Europe, the IT company said in a press release on Friday.
The size of the stake and other details of the deal are not disclosed.
“We are delighted to attract Horizon Capital’s backing as we broaden our delivery footprint in Ukraine and beyond. Intellias is among the fastest-growing IT Services providers with operations in Ukraine, having expanded from circa 150 employees in 2013 to over 1,100 now,” Co-founder and CEO at Intellias Vitaly Sedler said.
According to the report, to increase its client service capabilities, Intellias is expanding its delivery hubs beyond Lviv, Kyiv, and Odesa, with Kharkiv and Ivano-Frankivsk next in development, as well as locations in Central and Eastern Europe.
“We view this investment as marking a new chapter in our development, allowing us to raise the bar even further, to the benefit of our customers and employee,” Co-founder and Chairman of the Board at Intellias Michael Puzrakov said.
Intellias was founded in Lviv, in 2002 and by 2018 has evolved into a strong supplier of software development services, with a core delivery base in Ukraine. Intellias has been consistently ranking among the highest scoring IT Services employers in Ukraine and the fastest growing IT Services providers, having expanded in size over 10 times during the last six years.
Intellias was co-founded by Sedler and Puzrakov and continues to be founder-run.
Horizon Capital was established in 2006. It manages private equity funds Western NIS Enterprise Fund (WNISEF, established in 1994 with a capital of $150 million), Emerging Europe Growth Fund, L.P. (EEGF, established in 2006 with a capital of $132 million) and EEGF II (EEGF, established in 2008 with $370 million capital).
The money of these funds is invested in projects in Ukraine, Moldova, and Belarus.
In June 2016, OPIC (Overseas Private Investment Corporation) said that the OPIC would provide up to $37.5 million to EEGF III launched by Horizon Capital
