Kristall will close applications for IPO on February 21 – Kommersant
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PJSC Kristall (the parent company of KLVZ Kristall LLC) intends to close the book of applications for participation in the IPO ahead of schedule, Interfax writes with reference to the company’s press release. The company has already sent the relevant documents to the Moscow Exchange. It was previously reported that the order book would close on February 22, now the expected date is February 21.
According to the press release, the final price of shares will be announced on the morning of February 22, and trading in shares will begin on the same day. Interfax notes that the start of trading was previously expected on February 26. “The reason for adjusting the timing is due to high demand, which was reflected in the volume of applications. We are ready to meet the wishes of investors regarding allocation, and therefore we are accelerating the process of entering the Moscow Exchange,” the press service quotes the owner of Kristall PJSC Pavel Pobedkin as saying.
The shares of the PJSC are included in the third level of the list of securities on the Moscow Exchange. As part of the placement, it is expected to raise 1 billion rubles, the placement organizer is Finam. Taking into account the offer price, the market value of the company’s shares will range from 7.4 billion to 8.6 billion rubles. The volume of the offer is up to 125 million shares.
The Kristall alcohol group is the beneficiary of the Kaluga distillery Kristall. The plant produces Charochka, Bionica and Voronetskaya vodka. In 2022, KLVZ produced 1.35 million dal of alcoholic beverages. At the end of 2022, the company’s revenue amounted to 2.2 billion rubles. and increased by 48.3% year-on-year, net profit – 115 million rubles. (+138%).
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