Ukraine's Ovostar agroholding postpones publishing H1 2024 financials until Sept

MOSCOW. Aug 27 (Interfax) - Ovostar Union agroholding, a leading producer of eggs and egg products in Ukraine, has postponed publishing its H1 2024 financial report until September 6, Ukrainian media reported, citing the company's statement on the Warsaw Stock Exchange.

Ovostar Union has not clarified the reasons for postponing the publication of the report, though the agroholding has referred to Article 56.1 of the Polish Law dated July 29, 2005, on public offerings, the terms and conditions governing the introduction of financial instruments in organized trade, and public companies.

The report was to be published on August 28 according to information on the holding's website.

Ovostar boosted net profit 7.4-fold to $45 million, EBITDA 4.5-fold to $50.4 million, and revenue 20% to $162.5 million in 2023.

Ovostar Union held an IPO in 2011 for 25% of its shares on the Warsaw Stock Exchange at PLN 62 per share, raising $33.2 million.

Ovostar Union CEO Boris Belikov, member of the board of directors Vitaly Veresenko, and Canada's Fairfax Financial Holdings are the agroholding's joint majority shareholders with a 96.383% stake, having announced a forced buyout of the remaining shares from minority shareholders this past summer. The holding plans to delist the shares.