Moscow, Russia – April 26, 2018– Cherkizovo Group (MOEX: GCHE), the largest vertically integrated meat producer in Russia, today announces its decision to postpone the offering of its ordinary shares listed on the Moscow Exchange, as a result of market volatility. The Company continues to be committed to establishing a liquid market for its shares on the Moscow Exchange, and will monitor capital markets conditions.
Sergei Mikhailov, CEO of Cherkizovo, commented:
"Feedback from the market to date has been positive and confirms interest from the investor community in Chekizovo’s story and prospects. However, the current market environment poses a significant challenge to executing a successful offering, irrespective of the strong fundamentals of our business. We will, therefore, continue to monitor capital markets conditions, aiming for an appropriate time to launch our offering against a more constructive market backdrop where investors can better focus on Cherkizovo's compelling story."
About Cherkizovo Group
Cherkizovo Group is the largest meat producer in Russia. The Group is a top-3 producer in each of the Russian poultry, pork and processed meat markets.
Cherkizovo Group encompasses eight full cycle poultry production facilities, 16 modern pork production facilities, six meat processing plants, eight feed mills and around 287,000 hectares of agricultural land. The Group also includes Tambov Turkey facility, a joint Russian-Spanish venture. In 2017, Cherkizovo Group produced c.1 million tonnes of meat and meat products.
Thanks to its vertically integrated structure, which includes grain growing and storage, feed production, livestock breeding, fattening and slaughtering, and meat processing, alongside a distribution system, the Group has delivered long-term sales growth and profitability. The Group’s consolidated revenue was RUB 90.5 billion in 2017.
Cherkizovo Group shares are traded on the Moscow Exchange (MOEX).