EAVEX Weekly

June 29, 2021

Warsaw-listed Ukrainian grain grower and exporter Kernel (KER) climbed by 1.1% to PLN 57.40. The KER stock received a secondary listing on the Ukrainian Exchange last week, starting to trade at bid/ask of UAH 422/445. Currently we do not expect the KER stock to receive much liquidity on the domestic equity market, but we note that it provides an excellent long-term play for Ukrainian local investment funds which lack a mandate to invest abroad. Astarta (AST) and Agroton (AGT) slipped by 1.5% and 5.4% respectively, with the latter closing at PLN 8.04.