06.04.2012
Minsk Plant of Sparkling Wines to issue additional 240,000 shares in IPO for retail investors
MINSK, 6 April (BelTA) - Minsk Plant of Sparkling Wines will issue additional 240,000 shares in IPO for retail investors, director general of the company Leonid Kravchuk told a press conference.
Face value of one share determined on 1 January 2012 is Br171,450. Planned volume of issue is Br41 billion 148 million. Statutory fund of the company is Br123,515,323,200.
According to Leonid Kravchuk, the volume of shares that the company plans to sell in the course of the IPO for retail investors is less that than the block of shares and makes up 24.999%. The shares will be sold only to residents of Belarus (individuals and legal entities). One person will be able to buy not more than 1,000 shares.
Sale of shares will begin on 2 May and will end 15 June 2012. Proceeds from the sale will be channeled into further modernization to increase the capacity and improve the quality of products.
The first stage of upgrade at Minsk Plant of Sparkling Wines was launched in 2007. The upgrade was funded through banking loans and the company’s own resources. The investment was used to build a new biochemical department with the latest equipment, a new automated bottling line, a transforming substation, a warehouse for readymade products designed for 990,000 bottles of long-term storage. Upgrades were also implemented at the champagne cellar to increase the plant’s capacities from 990,000 decaliters to 1.356 million decaliters per year.
Minsk Plant of Sparkling Wines was founded in 1987 and transformed into an open joint stock company in 2004. The company’s interest stake shares (720,410 shares) are owned by the state. The company is the main producer of champagne and sparkling wines in Belarus.
Face value of one share determined on 1 January 2012 is Br171,450. Planned volume of issue is Br41 billion 148 million. Statutory fund of the company is Br123,515,323,200.
According to Leonid Kravchuk, the volume of shares that the company plans to sell in the course of the IPO for retail investors is less that than the block of shares and makes up 24.999%. The shares will be sold only to residents of Belarus (individuals and legal entities). One person will be able to buy not more than 1,000 shares.
Sale of shares will begin on 2 May and will end 15 June 2012. Proceeds from the sale will be channeled into further modernization to increase the capacity and improve the quality of products.
The first stage of upgrade at Minsk Plant of Sparkling Wines was launched in 2007. The upgrade was funded through banking loans and the company’s own resources. The investment was used to build a new biochemical department with the latest equipment, a new automated bottling line, a transforming substation, a warehouse for readymade products designed for 990,000 bottles of long-term storage. Upgrades were also implemented at the champagne cellar to increase the plant’s capacities from 990,000 decaliters to 1.356 million decaliters per year.
Minsk Plant of Sparkling Wines was founded in 1987 and transformed into an open joint stock company in 2004. The company’s interest stake shares (720,410 shares) are owned by the state. The company is the main producer of champagne and sparkling wines in Belarus.