With a family name like Hambro it would be hard not to make it big in business.
Leo Hambro, a son of Peter Hambro, the scion of the City banking dynasty that goes back to 1839, is set to follow tradition later this year with the flotation of Tynda Forest Holdings on London’s Alternative Investment Market.
He is managing director of TFH which currently owns huge forestry reserves in eastern Russia. “Its about the size of Wales” says Leo. “it produces 1.5m cubic metres of wood per year. That is the sustainable level of harvest that we are permitted to cut”.
The company is building a parquet flooring factory just over the border in China and also makes fibre board and plywood. The plan is to produce more finished products for the Russian and Far Eastern markets and to make fibre board without the use of environmentally damaging chemicals.
“We will be the only way to invest in the Russian timber market and it is highly fragment” says Leo.
When trading starts in the summer investors will be hoping that Leo will be as successful as his father who floated his Russian goldmining company on AIM in 1994 and it is now No 3 in the world with a market value in excess of £1 billion.
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