Russian champanksa maker to go pop with IPO

By Marcus Williams.

Russian sparkling wine producer Abrau-Durso is planning an initial public offering at the end of 2011 or the start of 2012.

“The shares are likely to be placed on the Moscow Interbank Currency Exchange (MICEX), but we are not considering foreign trading floors yet,” a spokespersn told Ria Novosti yesterday.

The company, which is valued at about $100, plans to sell about 15-20% of its stock. Funds raised in the IPO  will be used develop its production capacities and vineyards.

Abrau-Durso started the production of Sovetskoye Shampanskoye sparkling wine  in 1920.

The firm will do well to explode on to market given the current level of market volatility and risk aversion for emerging markets.

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