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Don Agro IPO

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Old 02-07-2019, 08:03 PM   #1
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Don Agro IPO


Singapore-based healthcare firm, Ardmore Medical Group Limited (Ardmore), and Russian agriculture group, Don Agro International Limited (Don Agro), have lodged their respective preliminary prospectuses to list on the Singapore Exchange Catalist Board.

The pricing, timing, and offering size of both upcoming IPOs are not finalised yet.

The sponsors for Ardmore and Don Agro proposed IPOs are SAC Capital Private Limited (SAC) and PrimePartners Corporate Finance Pte Ltd respectively.

Meanwhile, Don Agro is engaged in the cultivation of agricultural crops and the production of raw milk in Russia. Its core business is farming of commercial crops such as wheat, sunflower, sorghum, corn, and flax. Don Agro controls a land bank of approximately 53,200 hectares, of which approximately 41,167 hectares are arable, and approximately 12,800 hectares of the controlled land bank is owned by the group.

In FY2018, Don Agro’s total revenues stood at S$24.38 million ($17.99 million), up 5.10 per cent YoY from S$23.19 million ($17.12 million) in FY 2017. It reported profits of S$6.39 million ($4.72 million), up 55.79 per cent YoY from S$4.10 million ($3.03 million) in FY 2017.
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