KIEV, June 15 - Ferrexpo AG, Ukraine's major producer and exporter of iron ore, raised $420 million by selling 12% of its shares through an IPO at the London Stock Exchange, the company said Friday.

The IPO, the first by a Ukrainian company on the LSE, valued Ferrexpo at more than $1.67 billion, helping to raise cash the company seeks to spend on development and acquisitions.