ICP plans initial public offering

A cheerful Carsten Pfau spoke to a large audience at investor conferences in Munich, Zurich, Vienna and Hanover at the start of the year about the plans of Paraguayan juice concentrate producer ICP for 2024. The juice concentrate and orange oil factory, which has been in production for two years, is due to go into operation in the middle of the year, and the company's shares are to be listed on the Paraguayan stock exchange at the same time.

"Prices for juice concentrate are higher than ever, and there is no sign of this trend abating for the time being," said Pfau during the meeting in Munich. "The value of our company has increased more than fivefold in view of current market data and the resulting earnings expectations, and the trend is still rising," the entrepreneur continued.

"The timing for the IPO seems to us to be absolutely right; it is supported by a phenomenal market environment and extremely optimistic future prospects," Pfau continued. The company will issue new shares via a capital increase and list them on the stock exchange in Paraguay's capital Asunción; existing shareholders will receive subscription rights for a limited period. "We are seeing strong interest from Brazilian investors in subscribing to our shares. This is because Brazil is the world market leader for juice concentrate and has a strong relationship with this business. But Paraguayan investors have also already registered their interest, our concept is also being very well received here," says Carsten Pfau.

"Many investors from Germany invested in this project early on and the current situation naturally confirms their decision. In just over three years, the company value has already increased fivefold, and I myself think that we will even see a tenfold increase by 2026 - and this is simply due to the market development and the external circumstances. The agro-industry in Paraguay is already very up-and-coming and offers phenomenal growth potential, and the citrus sector in particular represents one of those rare opportunities that you don't often find in life. The fact that we can be part of this makes me extremely happy," concludes Pfau.

Agri Terra Group
Cruz del Defensor 1302
001885 Asunción
Germany

service@agri-terra.net

The German investor Carsten Pfau has lived in Paraguay for over 25 years and is one of the best-known personalities there, not least thanks to his two television shows that are broadcast weekly on the local evening program. With the Agri Terra Group, Pfau is known for orange plantations, greenhouse complexes and sensational real estate projects and is one of the largest employers in the country. With ICP (abbreviation for Industrias Citricolas del Paraguay), the entrepreneur already had the foresight to focus on the production of orange juice concentrate and orange oil in 2020, and the strategy now seems to be paying off. Persistent and even worsening shortages among orange producers in Brazil, the USA and Mexico have put concentrate production under increasing pressure, while massive purchases by China have further exacerbated the situation. Drastic price increases are the result.

This release was published on openPR.