Looking for a hot IPO? Russian ‘champagne’ maker Abrau-Durso plans one in Q2 ’12
on 17/08/11 at 1:24 pmBooze News
“The shares are likely to be placed on the Moscow Interbank Currency Exchange, but we are not considering foreign trading floors yet,” he said, adding that Abrau-Durso, set up in 1898, planned to sell about 15-20 percent of its stock.
The company will use the funds raised in the IPO to develop its production capacities and vineyards.
Solvalub group of companies, whose core business is mineral fertilizer production, holds a 58 percent share in Abrau-Durso.
Abrau-Durso started the production of Sovetskoye Shampanskoye sparkling wine – the symbol of Russian New Year celebrations – in 1920.