Aim’s attraction to overseas companies continues to widen, with the first Ukrainian group earmarked to join the junior market next month.

Ukrproduct Group (UPG) makes and distributes cheese, butter and other dairy products in the country. It is raising about £6m to buy new plant and equipment and expand the distribution network. Ukraine has been independent from the old Soviet Union since 1991 and while it has had its fair share of political recently, the situation is beginning to stabilize. While consumer affluence has been growing, much of the diary sector is still underdeveloped with many products, such as butter, sold in slabs. UPG sees an increasing market for its more sophisticated branded foods as well as export potential in the region. The company has recruited Jack Rowell, former England Rugby Union coach and food industry executive, as non-executive chairman. He said: “UPG has a strong record of profitable growth driven by its market-leading brands. The proceeds we are hoping to raise will enable us to take advantage of the exciting opportunities in our business and markets.” WH Ireland is adviser and broker as well as joint placing agent with Metropol.