Ukrainian dairy producer Ukrproduct has raised 6 million pounds sterling (about $11 mn) through its initial public offering on London‘s Alternative Investment Market. The IPO was managed by Russian financial advisor IFC METROPOL. The company raised 6 mn pounds issuing and selling 11,214,953 mn shares, which amounts to 27.2% of total shares on issue. The total number of Ukrproduct shares on issue was expanded to 41.2 mn as a result of the transaction.

The company underwent a standard IPO preparatory procedure, including international and legal audits and restructuring. The funds raised will be invested in a new plant and new operating equipment, the development of a marketing network, as well as working capital and listing expenses.