OREANDA-NEWS. Rostov agro-holding Don-Agro submitted an application to conduct a public offering of shares on the Singapore Exchange. The corresponding prospectus he presented last Friday, writes the European media. The agricultural holding is part of Singapore-based investment company StrongBow, its founder is the former top manager of MDM Bank Yevgeny Tugolukov. In 2011, Forbes estimated the fortune of a businessman at $ 550 million, that year he occupied the 173rd line of the “200 richest businessmen of Russia” rating. In StrongBow confirmed the plans for the placement, Tugolukov himself declined to comment.

The information that the agroholding filed an application for an IPO and is awaiting the approval of the exchange, a source close to Tugolukov confirmed to the Russian media. He did not mention the volume of placement and other details, but clarified that the funds will be used to develop the company. According to the news agency, the agroholding will receive funds from the IPO to purchase land in the Rostov region and new equipment.

"Don-Agro", as stated on its website, owns about 52 thousand hectares of land in the Rostov region. Agroholding grows winter wheat, barley, sunflower, chickpeas. It was formed in 2009 on the basis of five farms and until 2012 was part of the bankrupt agricultural holding "Razgulay".

The revenue of Don-Agro LLC in 2017, according to SPARK, amounted to 998.5 million rubles, net profit - 194.3 million rubles. There are no data for 2018 in the system. The main owner of LLC is OA Tetra, which also owns LLC Heppi Kau (it is engaged in cattle breeding and the production of raw milk). In turn, the owner of 99.9% Tetra is Cyprus Severstone Invest. The main buyer of milk, according to the Business Times, is one of the largest Russian processors, Molvest, and Don-Agro crops are bought by Bunge, Aston and Grain Service.