Rusagro will launch the IPO on the Moscow bourse, with current shareholder Matchzone Holdings using part of the proceeds to buy newly issued ordinary shares under closed subscription. The move is expected to raise $400m with around 50 per cent earmarked for reinvestment in the firm.
A company statement said it would use the cash injection to further modernize and expand its production and processing facilities, finance potential acquisitions, acquire control over additional agricultural land, expand into new markets and for general corporate purposes.
