Premia Foods, the largest producer of ice cream, fish products and frozen food products in the Baltics, plans to list its shares in the Tallinn Stock Exchange in the next few months. This would end the three-year draught of no new listings on the Tallinn Stock Exchange, writes Äripäev.
In preparation for the listing, Premia Foods increased its holding in GourmetHouse that sells fish products to large retailers, hired Andri Avila, former executive of Olympic Entertainment Group as its new finance director and increased its number of shares to 24.2 million to make the price more attractive for investors.
According to Äripäev, the company has already submtitted an appliation and emission prospect to the financial inspectorate. If everything goes well, the company could list its shares in Tallinn already in April or May.
Indrek Kasela, fund manager of Amber Trust that is one of the largest shareholders of Premia Foods, admitted that the company has been preparing for a possible listing fo the last six months. "There are few good shares on the market and many good companies have been delisted. Someone had to make a start," he said.
Premia Foods reported 1 billion kroons in revenues in 2009, a fall of 11% year on year. 36% of sales come from Finalnd, 33% from Estonia, 17% from Latvia and 13% from Lithuania. Fish products accounted 43% of sales, followed by ice cream (23%) and frozen food products (33%).
Premia Foods is owned by large international investment funds such as Amber Trust, Firebird and Danske Capital and its executives.
Toomas Hõbemägi
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