StockMarketWire.com - Origin Enterprises has welcomed Continental Farmers Group's announcement of an impending flotation on the Dublin and London stock exchanges.

Continental is a highly focussed, diversified and large scale producer of agricultural crops operating in western Ukraine and Northern Poland.

Origin became a strategic shareholder in 2008 to support the expansion of the farming operations in Ukraine and to provide geographic extension opportunity for its technologies and services.

Continental has raised €16.7m to fund its development programme and Origin has retained a shareholding of 24.2% in the enlarged business following the fundraising.

Origin CEO Tom O'Mahony said: "The successful listing and fundraising by Continental is a reflection of the attractiveness of the company's competitive positioning and its proven track record in building profitable and scalable farming operations in Poland and Ukraine.

"This fundraising provides Continental with access to appropriate sources of capital for infrastructure development and land expansion.

"As the largest shareholder in Continental, Origin will continue to support the future expansion of the company through the transfer of our integrated crop production technologies and on-farm advisory portfolios."


At 4:29pm:

[LON:OGN] share price was +0p at 3.92p



Story provided by StockMarketWire.com