09 June 2004 09:29
Nevskaya Kosmetika eyes IPO in 2005
ST. PETERSBURG. June 9 (Interfax) - Russia's second largest perfume and cosmetics maker Nevskaya Kosmetika is
eyeing an initial public stock offering for 2005, executive board chairman at Lenstroimaterialy (a Nevskaya Kosmetika
stockholder) Dmitry Ignatiev announced at a Wednesday press conference.
While not saying how big the IPO might be, Ignatiev did say, "There are no limits here." "The IPO will
precede Nevskaya Kosmetika's transformation into an open stock company, which is planned for completion by the end
of 2004, and the company's stock entering onto Russian exchange floors. Then we plan to get the stock listed on a
European exchange," Ignatiev said.
Nevskaya Kosmetika currently has three stockholders representing Lenstroimaterialy, and also private investors
representing company management.
How much Nevskaya Kosmetika stock Lenstroimaterialy controls Ignatiev did not say, but "it is not a controlling
stake."
It was announced earlier that Lenstroimaterialy, which began accumulating the cosmetic company's stock in late
2003, is planning to take its stake to 30%. It will probably have spent roughly $10 million doing so. [RU EUROPE EEU
ASIA EMRG DRU CCORA IPO STX WEU] cf
[Interfax] |
RUSSIA IN FACTS
