Ukrainian egg company aims to lay £132m London float

Wags are calling it the chicken Kiev, but executives at the Ukrainian egg company which today announced plans to float in London for £132 million were demanding to be taken seriously.

Avangardco has 16 million birds — about six times the population of the Ukranian capital where it is based.

It is seeking about $200 million (£131.6 million) in the sale of about a quarter of the company which it will use to finance the completion of two factories in the Ukraine.

Nataliya Vasylyuk, chief executive, said: "Avangard is already the leading egg production and egg-processing company in Ukraine and the listing will help strengthen the company's position as one of Ukraine's most successful agro-industrial companies."

London investment bankers will, however, not be dipping their toastie soldiers into the yolk.

Avangardco has opted to use Russian bank Troika Dialog as the global co-ordinator and bookrunner for the offering.