OREANDA-NEWS. April 27, 2010. AS Premia Foods, a company selling ice cream, fish, deep-frozen and chilled food products in five countries, plan to raise up to 15 million EUR (up to 235 million EEK) from investors during the initial public offering of shares and intends to list the shares of the company in the beginning of May in the Main List of NASDAQ OMX Tallinn Stock Exchange, reported the press-centre of Swedbank.

During the initial public offering of shares conducted from April 22 till April 29, AS Premia Foods will offer up to 14,500,000 common shares, which form approximately 37,5% of the company’s share capital, for sale to the retail and institutional investors. The price range of the offering will be from 12.80 to 16.20 EEK.

Retail investors can subscribe for the offered shares with the price 16.20 EEK per share, the final price of the shares will be determined by AS Premia Foods after the end of the offering period after having consulted with AS Swedbank, Global Lead Manager of the offering. Shares can be subscribed for in any office of any Estonian bank or investment company operating as custodians of the Estonian Central Register of Securities (including all the largest banks in Estonia).

According to the timetable for issue of shares the final price of the public offering and distribution of shares will be announced on May 3rd at the latest, May 4th is planned as the settlement date and trading with shares is estimated to begin on the NASDAQ OMX Tallinn Stock Exchange on May 5th, 2010.

The audited turnover of Premia Foods in 2009 was 1.075 billion EEK (68.7 million EUR) and EBITDA 97.1 million EEK (6.2 million EUR). The pro forma turnover of the same period in 2008 was 1.210 billion EEK (77.3 million EUR) and EBITDA 75.2 million EEK (4.8 million EUR).

Today ice cream generates 23%, other deep-frozen food products such as vegetables, dumplings, meat products, etc 33% and chilled and deep-frozen fish products 43% of the total turnover of AS Premia Foods.

The best-known trademarks of AS Premia Foods are Premia, Vaike Tom, Heimon Gourmet, Vau, Pohjataht, Regatt, Maaharra, Bueno! and others. AS Premia Foods employs 581 people. Premia Foods incorporates Premia Tallinna Kulmhoone AS, Saaremere Kala AS, Vettel OU and Gourmethouse OU in Estonia, AB Premia KPC in Lithuania and AS Premia FFL in Latvia as well as Heimon Kala OY, Overumans Fisk AB and Skargardshavets Fisk AB in Finland and Sweden.

AS Premia Foods has developed from the Tallinna Kulmhoone established in 1990. The shareholders of AS Premia Foods are the international investment funds Amber Trust S.C.A., Amber Trust II S.C.A., DCF Fund II Baltic States, Firebird Private Equity Advisors LLC and the board of the company.