From Russia's Don Agro to SGX's Catalist with love

Singapore

AGRI and dairy firm Don Agro International is hoping to get some love as it makes a Valentine debut on Singapore Exchange's Catalist on Friday and becomes the first Russian firm to list its shares on the local bourse.

The S$5.1 million initial public offering (IPO) involving new placement shares priced at 22 Singapore cents a piece is a big deal for the firm, which operates winter wheat, sunflower and dairy cattle farms in southern Russia's black-soil blessed Rostov region.

For one, the listing plan has been on the drawing board for at least five years, Don Agro's executive chairman Evgeny Tugolukov told The Business Times.

In fact, it could have happened last year but the company yanked a draft prospectus for the IPO that was filed in June 2019 and lodged a fresh preliminary offer document in November that included the six-month show…