25.06.2021 11:15
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rauDragon Capital and the Ukrainian Stock Exchange announce the start of trading in Kernel shares.
First contracts in the stock were concluded on June 24, 2021. “Up until now, Kernel shares have traded on the Warsaw Stock Exchange only, but we think that such a high quality asset should be available to Ukrainian investors, both institutional and retail, too. That is why Dragon Capital initiated a dual listing of these shares in Ukraine,” said Denys Matsuyev, Managing Director of Dragon Capital. “We have a positive track record in this regard, as in early 2015 the shares of Myronivsky Khliboprodukt (MHP) were introduced to Ukraine, which at the time were listed solely on the London Stock Exchange. The stock has since become liquid not only in London but also in Kyiv. All over the world this year, we are observing significant demand and rapid growth in prices for commodities, including in the agricultural sector. As a result, investors in Ukraine can already diversify their portfolios by investing into a dominant domestic agricultural company, and one that has paid dividends every year over the last seven years.”
“The stock market in Ukraine can only develop with the advent of quality instruments. While there are no IPOs of local companies in Ukraine, the alternative is to introduce foreign-listed companies, particularly those with Ukrainian assets and traded on foreign platforms such as the LSE, NYSE, NASDAQ, WSE. I am confident that inflows from local investors in the Ukrainian stock market will increase with the arrival of shares and bonds of attractive issuers such as Kernel,” said Artemiy Yershov, Chairman of the Board of the Ukrainian Stock Exchange.
Kernel is the largest producer of sunflower oil in Ukraine, operating about 18% of domestic sunflower seed processing capacity, as well as the largest exporter of cereals with a market share of about 16%. Due to the growth of grain and oilseed processing and exports, as well as rising commodity prices, Kernel achieved a 37% year-over-year increase in revenues for the first 9 months of its 2021 fiscal year (July 2020 – March 2021), to almost $4.0 billion, while its net profit increased 4.6 times year-over-year, to $348 million. Thus, Kernel is on track for record revenue and profit in the 2021 financial year (July 2020 – June 2021). At the same time, Kernel’s completion of its ongoing investment program paves the way for increasing dividends to shareholders.
Information about Kernel shares:
ISIN: LU0327357389
Ticker on the Warsaw Stock Exchange: KER
Issuer website: http://www.kernel.ua
Ticker on the Ukrainian Stock Exchange: KER
About the Ukrainian Stock Exchange
The Ukrainian Stock Exchange is the leading organized market of shares and futures contracts in Ukraine. Trading on the stock exchange started in March 2009. From the first months of its existence, it became the technological leader of the Ukrainian stock market — the first to launch trades in the “bid market” mode, online trading, repo agreements, central counterparty and futures market.
About Dragon Capital
Dragon Capital is Ukraine’s leading investment bank offering a comprehensive range of services in equities and fixed income sales, trading and research, investment banking, private equity and asset management to institutional, corporate and private clients. Established in 2000, the company was minority-owned from 2007-2017 by Goldman Sachs, one of the largest global banks.
Dragon Capital accounts for the largest share of turnover on the Ukrainian stock market, carrying out approximately a third of reported transactions. The company also dominates the Ukrainian debt market, with Dragon Capital’s DCM team advising leading corporates and banks on raising debt through local bonds, Eurobonds, structured finance and bilateral debt. The company’s fixed-income sales and trading business acts as a market maker in both domestic and international debt instruments, trading actively with international and domestic investors.
Dragon Capital has a decades-long track record of successful private equity investments in Ukraine, committing both its own funds and those of its international partners. Dragon Capital boasts a leading team of professionals in the private equity business with an impeccable reputation for partnership.
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