Ukraine's Ovostar postpones release of annual report for third time

MOSCOW. June 4 (Interfax) - The Ovostar Union agricultural holding, one of Ukraine's leading producers of eggs and egg products, has postponed the release of its annual report until June 5, 2024, Ukrainian media reported, citing a company announcement on the Warsaw Stock Exchange.

No reasons for postponing the publication of the report are specified in the announcement.

This is the third time the release date has been postponed. Previously, the agricultural holding planned to publish it on May 27, and then on June 7.

As reported, Ovostar earned $29.08 million in net profit for 9M 2023, a 12.2-fold increase over the figure for the same period in 2022. Revenue increased 36.3% to $123.06 million, mainly due to increased prices for the company's products.

The majority shareholders of Ukrainian agricultural holding Ovostar (Ovostar Union), CEO Boris Belikov and board member Vitaly Veresenko, together with the Canadian Fairfax Financial Holdings, accumulated 95.45% of the shares of the agricultural holding and decided to buy the remaining 4.55% at a price of PLN 70 per share (about $17.3 at current rates).

Ovostar conducted an IPO of 25% of its shares on the Warsaw Stock Exchange in 2011 at a price of PLN 62 per share and raised $33.2 million.