Svitlana Korytska, Corporate Investments Director: “Agricultural holding A.G.R. Group intends to become a public company and arrange IPO”
The 18th annual Ukrainian Chief Financial Officers Forum was held in Kyiv on October 29-30, 2019. International experts, CEOs and top financial managers of the Ukrainian and international companies, analysts and representatives of the regulator took part in the forum discussions. One of the main issues of the forum was attracting by the Ukrainian companies of funding, in particular, foreign investments for their development.
A.G.R. Group was represented by Tetiana Benko, Chief Financial Officer, and Svitlana Korytska, Corporate Investments Director, who summarized the main points.
Svitlana Korytska emphasized, “There can be a window of opportunities for the Ukrainian business in the nearest time. Currently, the foreign investors are interested in Ukraine again. In particular, US-based credit ratings agency Fitch upgraded Ukraine’s short-term and long-term as well as local and foreign currency IDR from its current “B-” to “B” with a positive outlook”. According to Svitlana Korytska, “the demand for Eurobonds of the Ukrainian state and private companies, such “Naftogaz of Ukraine”, “Ukrzaliznytsia”, Metinvest Group, the largest agriholdings in Ukraine - “Kernel” and “MHP” demonstrate the investors’ interest.”
As Svitlana Korytska mentioned, A.G.R. Group has intention to use that window of opportunities. She noted, “We intend to become a public company with an access to international debt capital markets, in particular, IPO. And, we moved significantly forward with this regard: the agriholding restructuring has been performed, KPMG positive audit report received, and international standards of corporate governance are currently being implemented in the holding.”
According to Corporate Investments Director of A.G.R. Group, presentations and discussions in the forum afford grounds for optimism and indicate the scale of the required transformations in order to be investment attractive. Svitlana Korytska summarized, “We have to do a lot of work, understanding that this path is not easy, but we are already in this path and we are not going to deviate from it.”