IFC gets five-year option to buy shares in Ukraine's of IMC agroholding
KYIV. Jan 17 (Interfax) - The International Finance Corporation (IFC), which issued a $50 million loan to Industrial Milk Company (IMC), has got a five-year option to purchase shares in the Ukrainian agricultural holding.
According to a company report on the Warsaw Stock Exchange, the terms of the option, in particular, provide the IFC with the possibility of buying IMC's shares worth $20 million at $6.45 per share within five years of the date of the signing the loan agreement.
An unsecured long-term loan of $30 million is raised for seven-and-a-half years.
The funds will be used to expand the company's agricultural activity and replenish its working capital.
According to the agricultural holding, 21.64% of its shares (6.775 million) are in free circulation.
According to the Warsaw Stock Exchange, as of January 16, 2014 the price of IMC's shares was PLN 12.75.