Verevskyi invests $50 million in shares of Swiss iron ore group Ferrexpo

Andrii Verevskyi, founder and majority owner of Ukrainian agricultural holding Kernel, has become a key investor in a major capital-raising deal by mining group Ferrexpo. The businessman invested $50 million in a new share issue, accounting for half of the nearly $100 million raised, Forbes Ukraine reports.

According to a Ferrexpo announcement to the London Stock Exchange, Verevskyi will receive 224.4 million new Ferrexpo shares at 16.5 pence per share. In total, the company placed more than 448.8 million new shares at a substantial discount — 42.3% below the share price when trading was suspended at the end of April 2026.

The second half of the issue will be subscribed by Fevamotinico, the company’s largest shareholder.

The capital injection is intended to help the company avert a severe liquidity crisis and restart operations at its Ukrainian assets, including the Poltava, Yeristovo and Belanovo mining and processing plants. Production was suspended due to security risks, while the company’s cash reserves were running low.

The financing provided by Verevskyi and Fevamotinico will allow Ferrexpo to:

• strengthen its balance sheet and resume mining and processing;
• restore export supplies to European and global customers;
• cover deferred spending at its operations and preserve thousands of jobs.

The new share issue is subject to approval at a general meeting of shareholders on Sept. 21. Trading in the new shares on the London Stock Exchange is expected to begin on Sept. 22.