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. Last Updated: 07/27/2016

WBD Plans 2nd RTS Share Float

No. 1 fruit juice and dairy product maker Wimm-Bill-Dann on Wednesday announced plans to float additional shares on the Russian Trading System this fall to boost its presence on the local market.

The secondary public offering will consist of a new emission or a small stake to be sold by existing shareholders, Sergei Plastinin, WBD's chief executive, said at the Lianozovo dairy plant outside Moscow. The first option is the most likely, he added. The company floated shares on the RTS earlier this month.

"Our main aim is not to attract investment. We are a Russian company and want to be traded here," Plastinin said.

WBD attracted $207 million in investment when it floated 25 percent plus one share in the form of level three American depository receipts on the New York Stock Exchange in February.

The company plans to invest $50 million to acquire new factories and an additional $40 million to modernize existing facilities, said Svetlana Ardentova, director of the company's financial department.

WBD's board of directors has decided that all revenues from 2002 should be reinvested into development, Plastinin said.

"We are working on acquiring new plants in both Yekaterinburg and Samara," Plastinin said, adding that a new plant is to be built in St. Petersburg this autumn. He declined to give figures for the acquisitions.

WBD was to hold a board of directors meeting Thursday.