Russia's leading premium sparkling wine producer Abrau-Durso will hold an initial public offering in spring 2012, the company's spokesman, Vitaly Ryazantsev, said on Friday.
"The IPO as a source of additional funds is not very interesting for us, as we have good profit and sales results. We need [the offering] to see how the market estimates our company and whether we are developing correctly," Ryazantsev told Prime news agency.
Last August, the company said it planned to issue from 15 to 20 percent of its shares, while the final decision about the stake will be made at the board meeting this February. Abrau-Durso, which estimates itself at $100 million, will hold the IPO on the Russian market.
Company officials repeatedly said that the raised funds would be used to develop production capacities and vineyards.
