• Shares opened at S$0.25
• Approximately 5.6 million shares changed hands, market capitalisation of S$36.1 million as at close of market today
• Don Agro, one of the largest agricultural companies in the Rostov region in Russia, intends to use proceeds from its listing to expand its arable land bank, acquire new machinery and equipment, explore opportunities in mergers and acquisitions, joint ventures and strategic alliances as well as for general working capital
Singapore, 14 February 2020 – Don Agro International Limited (the “Company” or “Don Agro”) and its subsidiaries (collectively the “Group”), one of the largest agricultural companies based in the Rostov region of Russia, debuted today on the Catalist board of Singapore Exchange Securities Trading Limited (the “SGX-ST”). The shares opened at S$0.25 and closed at S$0.24.
A total of approximately 5.6 million shares changed hands today with a turnover of approximately S$1.4 million. The market capitalisation as at the close of market today was S$36.1 million.
Speaking on the Group’s trading debut, Mr. Evgeny Tugolukov, Executive Chairman said, “The Russian agricultural industry has been on the rise, becoming the world’s largest exporter of wheat and a strategic sector for Russia not just for economic growth, but for Russia’s food security initiatives.
The sales and export of Russian agricultural products are expected to increase as Russia continues to explore new trade opportunities abroad, including Southeast Asia, and having a presence here will open doors we never thought possible. It is our hope that our listing will raise our profile and allow investors across the world to gain access to Russia’s growing agricultural industry."
As the Group embarks on its next phase of growth, it has plans to scale its business through the expansion of its arable land bank. In addition, the Group intends to acquire new machinery to upgrade existing equipment and machinery and/or expand its equipment and machinery in line with the expansion of its land bank.
Don Agro is also exploring opportunities in mergers and acquisitions, joint ventures and strategic alliances with both domestic and foreign companies. By leveraging on its expertise and experience, the Group intends to seek new and suitable opportunities to expand into other high growth regional markets within Russia, such as other districts within the Rostov region and the Krasnodar region in Russia.