Russian egg giant plans London IPO

UKRAINE'S biggest egg producer Avangard is planning a stock-market float in London.

The IPO would be the first from the Commonwealth of Independent States (CIS) in the capital this year.

The company has not revealed how much it hopes to raise.

If the IPO goes ahead, it will be the first London listing by a former Soviet Union-based company in 2010.
Russian aluminium giant UC RUSAL opted to list in Hong Kong and Paris in January, while a string of other companies are planning IPOs in Moscow.

Avangard said in a statement its revenue grew to $320m (£211m) last year from $303m in 2008, and had earnings before interest, tax, depreciation and amortisation (EBITDA) of $152m.