Alcohol group Kristall plans to raise a billion rubles through IPO
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Alcohol group Kristall plans to raise a billion rubles as part of an initial public offering (IPO) on the Moscow Exchange. The company plans to place 125 million securities. The money will be used to expand production and logistics.
“The volume of supply for the initial issue of shares is up to 125 million shares, raising funds in the amount of approximately 1 billion rubles. (before taxes and expenses). Funds from the placement will be used to develop business, expand production and logistics, and ultimately to meet demand with new high-margin products,” says the press release cited by the agency TASS.
The company estimates the price parameters of the upcoming IPO to range from 8 to 9.5 rubles. per share. The application book will open on February 12 and will close on February 22. The sale of securities will take place as part of an additional issue: with registration number 1-01-05421-G. The company plans to apply for inclusion of shares in the “Third Level” section of the list of securities admitted to trading with the code KLVZ.
The Kristall alcohol group is the beneficiary of the Kaluga Distillery Kristall. The company is one of the top 10 largest producers of strong alcohol in Russia and supplies products to 61 regions.
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