Rusagro applies to delist from LSE, GDR program still in force

MOSCOW. June 26 (Interfax) - Ros Agro Plc, parent company of the Rusagro Group, has applied to the UK Financial Conduct Authority (FCA) to cancel the listing of the company's global depositary receipts from the Official List of the London Stock Exchange, the company said in a statement.

This will result in the cancellation of listing of its GDRs on the LSE from July 25, 2024.

The GDR program remains in force and is operational.

Following cancellation of the listing on the LSE, the Company will continue listing of its GDRs on the regulated markets of Astana International Exchange (AIX) and Moscow Exchange .

Rusagro is a leading Russian agricultural holding that ranks first in producing sunflower oil and margarine, second in producing sugar and industrial fats, and third in producing pork.

The company produced 928,000 tonnes of sugar in 2023, a rise of 20% year-on-year, or 157,000 tonnes. Pork production totaled 334,000 tonnes in live weight at slaughter, a decline of 1% year-on-year, or 2,000 tonnes.

The group boosted revenue 15% to 277.3 billion rubles in 2023, adjusted EBITDA increased 26% to 56.56 billion rubles, and net profit soared over 7-fold to 48.7 billion rubles.

The company has assets in 15 Russian regions, including the Belgorod, Tambov, Voronezh, Kursk, Oryol, Sverdlovsk, Samara, and Orenburg regions, respectively, and in the Primorye territory and others. The land bank is 685,000 hectares.