Russian Wine Company is Floated
April 12
09:38
2012
Abrau Durso, the largest sparking wine producer in Russia, has been floated on the Russian stock exchange. The IPO is expected to raise $15 million for a 15% stake by the end of April.
The proceeds will be used to develop tourism in the Krasnodar region of Russia, where Abrau Durso is based. Abrau Durso also plans to double production up to 34 million bottles by 2015.
The company was founded in 1870 and has been majority owned by SLV Group since 2006. Following modernisation Abrau Durso increased production from 4 million bottles in 2005 to 14 million in 2008. Abrau Durso became the first Russian wine company to receive an award at the International Wine Spirit Competition in 2010.
