Agrokor plans an initial public offering of shares on the London Stock Exchange in the next two years. The money raised in such way ,Agrokor could use to invest in Turkey and Russia , said the founder and majority owner of the company, Ivica Todoric .
Agrokor , which is engaged in agriculture , food production and retailing , in June agreed to buy 53.1 percent stake in the largest Slovenian retailer Mercator for 240 million euros ,in order to create a regional retail giant, under a provisional name Adria Group .
This company would have a joint income of seven billion euros per year. When the regulatory agencies approve the merger with Mercator and when it is fully implemented , Todoric says he will consider expansion of the company and outside of the Western Balkans.
Going to the stock,would be crucial for that.
“We are ready for fully merge of the two companies and we believe that in the course of two years ,we will be ready for the next step . We'll see if that means forming partnerships , acquisitions or enter new markets . We believe that within a few years the market will be completely different and we'll be ready . We are ready to talk with major international financial players about it, ” said Todoric .
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He added that he regrets that negotiations have failed in 2008 ,with a Turkish retailer Migros , but that his company is preparing another attempt to enter the Turkish market , probably with a foreign partner .
” Agrokor must focus on the wider region , especially to Russia and Turkey,” said Todoric .
