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London – the right fit for Ukrainian companies looking for growth capital

London – the right fit for Ukrainian companies looking for growth capital Jon Edwards and Zarina Korolova, London Stock Exchange, June 2008 London is the place for international companies looking for capital London provides CIS companies with an established peer group

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London – the right fit for Ukrainian companies looking for growth capital

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  1. London – the right fit for Ukrainian companies looking for growth capital Jon Edwards and Zarina Korolova, London Stock Exchange, June 2008

  2. London is the place for international companies looking for capital

  3. London provides CIS companies with an established peer group • Over 100 CIS companies trading in London • 90% of International Order Book trading in 2008 YTD is CIS • $22 billion raised by CIS companies in London last year at IPO • Strong appetite for fast growth mid-cap companies from the CIS in London - over $ 1.7 billion raised to date by CIS companies on AIM at IPO • Average IOB daily trading volume is 2.3 billion

  4. Interest across sectors in Ukraine from London investors

  5. Main Market &AIM Main Market Supports the capital raising activities of earlier stage companies Supports the capital raising activities of more established companies 1,675 companies: Aisi Realty Public, Dragon Ukrainian Properties & Development, KDD Group, Landkom, Nostra Terra Oil and Gas, Regal Petroleum, Ukrproduct, XXI Century 1,550 companies: Ferrexpo, JKX Oil and Gas, MHP, Ukraine Opportunity Trust

  6. London funds have a choice of products to invest in

  7. CIS companies on AIM • 49 CIS AIM Companies (including 25 Russian, 12 Kazakh, 8 Ukrainian, 1 Kirghiz) • In 2007, CIS AIM companies raised £662m at IPO • In 2007, CIS AIM companies raised £577m in further issues • AIM investors have backed CIS companies in a number of sectors including oil & gas, mining, telecommunications, media, food & drink, property, construction and chemicals

  8. AIM companies by market capitalisation CIS Average Market Cap vs. AIM Average Market Cap (£,m) The average for CIS AIM companies at admission is £98m. Source: London Stock Exchange Statistics

  9. Ukrainian AIM Companies Case Study Market Cap Growth since Admission to AIM 11/02/06 $6m 27/09/02 $10m 01/08/07 $17m Date of adm Money Raised 16/12/05 $68m 01/06/07 $104m 22/11/07 $54m

  10. Fundraising on AIM AIM Money Raised (£m) In 2007 the average IPO raise for AIM Companies was £36m and the average further raise was £4m Source: London Stock Exchange Statistics, June 2008

  11. Fundraising on AIM – case study £4m £9m £10m £5m £2.5m Hambledon Mining has grown its market cap from 10 million GBP at Admission to 50 million GBP today

  12. IPO Process Legal reports and negotiations Cost Structure (AIM) Law Firm Law Firm Total costs to raise £50m, Excluding value of options: ( NOMAD’s ) (Corporate) £2,500K - £5,000K 5% - 10% Overall costs range: £150K - £300K, Of which NOMAD’s £150K - £200K Prospectus Lawyers get 25% - 40% plus Short - form 1% of the firm Preparation report NOMAD Reporting Company Accountants Underwriting and £100K - £150K Technology analytical coverage Experts Broker 3 - 5% of £25K - £50K £10K the deal, plus 1% of the firm Listing and trading Services Public Relations and Investor Relations Stock Exchange:AIM Independent PR firms Researchers LHC CREST Co Registrar AIM IPO Costs Overview Source: Oxford Said Business School MBA Project, August 2006 as amended by London Stock Exchange

  13. AIM Trading

  14. Contacts • Jon Edwards • Senior Manager, CIS & CEE • jedwards@londonstockexchange.com • +44 20 7797 1599 • Zarina Korolova • Manager, CIS & CEE • zkorolova@londonstockexchange.com • +44 20 7797 4472

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