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. Last Updated: 07/27/2016

Russian Alcohol Considers an IPO in 2008

Russian Alcohol, the maker of Zelyonaya Marka vodka, may hold an initial public offering next year to raise funds for local and international expansion, Alexander Korovka, spokesman for the distiller, said Monday.

The company will decide on terms of a sale in 2008 depending on market conditions, Korovka said. He declined to comment on a Sunday Times of London report that the company's owners hired Amsterdam-based ABN Amro Holding to advise on a sale. The distiller, controlled by Industrial Investors, is considering ABN Amro among other potential organizers of an IPO, he said.

Russian Alcohol is the country's second-biggest vodka maker, with a 5.6 percent market share, Renaissance Capital said. The company aims to raise production by 33 percent to 10.6 million decaliters this year, its web site said.

The distiller gets 70 percent of sales from its top-selling premium vodka, Zelyonaya Marka. The spirit generated $540 million in revenue last year, Korovka said. Russian Alcohol also aims to expand sales of its less expensive Zhuravli brand, he added.

The distiller's net income more than doubled to 803 million rubles ($31 million) last year from 298 million rubles in 2005, its web site said.