19 March, 2009
OJSC "Ak-Suu maize refining sugar plant" has conducted 1 billions soms placement.
1 billion soms transaction of 3rd OJSC "Ak-Suu maize refining sugar plant" common stock issue placement has been coducted on CJSC "Kyrgyz Stock Exchange". Placement price per share has amounted 17,5943 soms.
We remind that on the 27th December Financial Inspection of Kyrgyz Republic registered third issue of 56 836 590 common shares of nominal value of 17,5943 each to the amount of 1 000 000 015,437 soms to increase authorized capital.
General meeting of stockholders of 29th March 2008 took a decision to increase amount of shares in circulation in order to attract new investments needed to launch sugar plant.
OJSC "Ak-Suu maize refining sugar plant" which includes acting sugar plant, which specializes in refining of cane raw sugar, unfinished product which is out of service since 1992 - maize refining plant, construction of which was started in 1987.
Kazakh investors represented by JSC "VITA" (industrial holding which specializes in production of vegetable oil and butter, mayonnaise, candy treacle, sugar, and also protein products of deeply refining soya) which came into possession of OJSC "Ak-Suu maize refining sugar plant" stock holding (88,1469%) in 2004, started reconstruction of the plant and its preparation to operation with raw sugar, and since July 2005 started production of candy treacle and refining of cane raw sugar. Workshop producing glucose-fructose syrups which is located in the plant is unique. There is no such workshop in any country of Central Asia. Now there will be raw sugar production but in nearest year or two the company plans to start production of sugar from sugar beet.
Producing capacity of the plant is 500 tons of sugar per day, and maize workshops- 300 tons per day. This plant is the only enterprise in Central Asia which is able to produce high quality glucose-fructose syrups from maize by enzymatic method.
As a result of this transaction trade volume on CJSC "Kyrgyz Stock Exchange" has amounted 1 069, 3 billion soms. Since of the beginning of the year 245 transactions have been registered.
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