29 July 2023

The international insurance group Fairfax Financial Holdings increased its share in the capital of one of the largest Ukrainian producers of chicken eggs, Ovostar, from 10.4% to 17.5%.

As per notification on the Warsaw Stock Exchange, the share of the Canadian insurance group Fairfax in one of the largest Ukrainian producers and exporters of chicken eggs - the company Ovostar - increased from 10.4% to 17.5%.

Given the recent announcement that on June 30, 2023, another insurance holding company Allianz OFE sold 5.19% of Ovostar shares, it can be concluded that Fairfax increased its share mainly at account of Allianz share.

The majority shareholders of Ovostar through Prime One Capital Ltd are Ukrainian businessmen Borys Belikov and Vitaly Veresenko, who own 68% of the company.

Fairfax became the second largest shareholder of Ovostar, other companies with a share of more than 5% are Generali and Aviva.

As a reminder, Fairfax with a 30% share is one of the largest shareholders of another Ukrainian public agricultural holding company, Astarta, and is also the main shareholder of the insurance company ARX.

According to our expectations, 2023 may be the best year in the history of Ovostar in terms of financial performance. Our analysis of the financial report of the Ovostar company for the first quarter of 2023 is available at the link.