Major shareholders of Ovostar and Fairfax build up 95.45% of agri holding, purchasing remaining shares
The majority owners of the Ovostar Union agricultural holding, CEO Borys Belikov and member of the board of directors Vitaliy Veresenko, together with Fairfax Financial Holding companies, accumulated 95.45% of the shares of the agricultural holding and decided to buy the remaining 4.55% at a price of PLN70 per share ($17.29) at the current exchange rate).
As Ovostar said in a statement on the Warsaw Stock Exchange on Monday, a total of 273,066 shares are expected to be purchased, and the Polish company Ipopema Securities has been chosen as an intermediary.
The announcement of the buyback led to a jump in the price of Ovostar shares on the stock exchange by 8.56% - to PLN71.
It is clarified that the company Prime One Capital Limited (Cyprus) of Belikov and Veresenko owns 65.93% of the shares.
Ovostar Union, a vertically integrated holding company, is one of the leading producers of eggs and egg products in Ukraine. Ovostar received $29.08 million in net profit for the nine months of 2023, which is 12.2 times better than the figure for the same period in 2022. Its revenue for the nine months increased by 36.3%, to $123.06 million, mainly due to rising prices for its products.