The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.

Ukraine: MHP feeds appetite for farming

Bankers say there will be further equity capital markets issuance from farming groups in Ukraine in the coming months.

Fund managers are keen to increase their exposure to agriculture, which, thanks to surging global demand and soft commodity prices, is emerging as a key investment theme in central and eastern Europe.

"We think that 2008 will be a landmark year for share issues by agricultural groups in Ukraine," says Tamara Levchenko, agriculture analyst at leading Ukrainian investment bank Dragon Capital. Blessed with an abundance of highly fertile black earth farmland, Ukraine is increasingly seen as a key player in global agriculture, a status that has been bolstered by the country’s accession to the World Trade Organization.

The latest Ukrainian agribusiness to tap international investors is Mironovskiy Hleboproduct, which started trading on the London Stock Exchange in late May after raising $371 million in an IPO, lead managed by Morgan Stanley and UBS. The transaction is the largest agriculture-related play from the country to date. "Vertical integration has been the recurring highlight among investors during the MHP roadshow," says Frances Fahey, managing director, equity capital markets at UBS in London. "MHP’s business model not only allows it to enjoy full control over its operational supply chain but also delivers the ability to mitigate input cost volatility."

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree