The management of Ledo aims to consolidate the entire ownership structure of Agrokor in the ice cream and frozen food segment and become a regional leader in the ice cream and frozen food industry, they stated from Ledo.
To carry out this transaction, Ledo is considering a recapitalization with the aim of using the funds to acquire the companies Frikom (Serbia) and Ledo Podgorica d.o.o. (Montenegro) from Agrokor, the company says in a presentation of its intentions to investors.
Ledo values the mentioned companies at 908.2 million kuna, of which 100% stake in Frikom is valued at 758.1 million kuna, and 100% stake in Ledo Podgorica is valued at 150.1 million kuna (the valuation of equity is within the range of equity value estimated by the independent appraiser Ernst & Young).
By acquiring these companies, Ledo would gain exposure to markets with significant growth potential, thereby creating conditions for generating added value for shareholders, the company states.
Ledo is considering recapitalization by qualified investors through the issuance of up to 93,750 new ordinary shares at a price not lower than 8 kuna per share.
After the recapitalization is completed, they plan to list the shares on the Official Market of the Zagreb Stock Exchange, which, in combination with the entry of qualified investors into the ownership structure, is expected to increase the liquidity of the shares in the market.
As reasons for investing, they cite brand strength, the fact that Ledo is a leader in the markets of Croatia, Slovenia, Bosnia and Herzegovina, and Montenegro, a unique pan-regional distribution network for ice cream and frozen food, high profitability, and strong growth potential.
