KYIV, Dec. 17, 2007 – Investment bank Dragon Capital has successfully placed a minority stake of 11.35% in nationwide insurer NASC Oranta among a group of institutional and private investors for $39.7m. The placement puts the market capitalization of the company at approximately $350m.
Dragon Capital acted as organizer and sole placement agent for the transaction.
About 20 institutional and private investors from Ukraine, the United States and Europe took part in purchasing the Oranta shares.
The placement marks the second deal in Ukraine’s insurance sector in 2007. Earlier this year, the Universalna insurance company placed a 19% stake among portfolio investors for $16m, implying a market capitalization of $83m.
“The successful placement of shares in Oranta, which is a leader in the classic insurance market in Ukraine, demonstrates the high interest foreign investors have towards the Ukrainian insurance market,” said Dragon Capital Director Dmytro Tarabakin. “Companies in this sector have enormous potential to attract foreign investment capital given the lack of penetration in the sector and their huge potential for growth.”

ABOUT DRAGON CAPITAL
Dragon Capital (www.dragon-capital.ua) is Ukraine’s largest securities brokerage, investment banking, private equity and asset management firm, offering a wide range of services to institutional, corporate and private clients. Since start-up in 2000, Dragon Capital has been the largest broker on the PFTS, Ukraine’s premiere stock market, accounting for 34% of total stock turnover over 2006-07. Dragon’s IB division has completed 20 IPOs and private placements, raising more than $1bn for Ukrainian companies since 2005, and has helped local corporates attract more than $500m in debt. Financial magazine Euromoney has recognized Dragon Capital five times as Best Equity House in Ukraine (2002, 2004-07).