Kristall distillery will hold an IPO in December – Kommersant
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Kaluga Distillery Kristall announced an IPO on the Moscow Exchange (MOEX: MOEX) in December of this year. This was stated by the owner of the company Pavel Pobedkin during a presentation for analysts.
According to Interfax, the size of the placement could range from 1 billion to 1.5 billion rubles. Kristall plans to use the funds raised from the IPO to develop production, logistics and marketing. The placement organizer will be Finam.
Kristall entered the debt market for the first time in March, placing three-year bonds worth RUB 300 million. with a quarterly coupon and a yield to maturity of 14.21%. The company announced plans to conduct an IPO in the fourth quarter of 2023 on October 2.
In October, Russian President Vladimir Putin instructed the government to take additional measures to support IPOs of Russian companies. In 2022, only one IPO took place in Russia, which was conducted by the scooter rental service Whoosh.
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