Earlier today the Singapore Exchange (SGX) added the Russian agri and dairy firm Don Agro International Limited to its Catalist under the stock code “GRQ”. The company appears for the first time on the Singaore stock exchange at S$0.25, 13.6% higher than its initial offering price (IPO).
Don Agro operates agricultural products in the Rostov region of Russia with main business activities being cultivation of winter wheat, sunflower, sorghum and corn, as well as production of raw milk. Don Argo is also the first Russian company to be listed on the on the Singapore
Evgeny Tugolukov, Executive Chairman, Don Agro International, commented:
Listing on SGX not only provides us with a gateway to tap on the capital markets but also an enhanced platform for business opportunities and strategic partnerships in Singapore and the region. We look forward to our journey as a listed company in Singapore which will fuel our next phase of growth and capture opportunities within the burgeoning Russian agricultural industry.
Mohamed Nasser Ismail, Global Head of Equity Capital Markets, SGX, stated:
We are delighted to welcome Don Agro International Limited on SGX. As our first Russia-based company listing, it reinforces our position as Asia’s most international exchange with more than 40% international listings. We provide an ideal venue for companies globally looking to access the capital markets in Asia and would encourage and welcome more businesses from Russia and elsewhere around the world to tap our capital markets. This listing also presents global investors with an exciting opportunity to invest in resource-rich Russia.”
The total number of companies listed on SGX Catalist comes to 217. The recent addition of Don Agro with market capitalization of S$35 million brings the combined amount on the market to S$9 billion.
There are 32 countries, presently, from the commodities sector listed on SGX with a total market cap of around S$40 billion.