Friday, January 12, 2007
Baltimor mulling IPO in 2008 or 2009
Baltimor mulling IPO in 2008 or 2009
mergermarket
Story Baltimor Holding, a privately-held Russian ketchup and canned products producer, is considering launching an initial public offering in 2008 or 2009, said a company spokesperson.
However, it has not been decided yet if the company would list on either the London and Russian stock exchanges. Also, the company has not decided on the size of the IPO.
The proceeds from IPO would be spent on building new plants to increase the company's presence in the Russian regions. The spokesperson did not rule out the possibility of entering other markets within the Commonwealth of Independent States.
The spokesperson denied that the company would be interested in selling the stake to a strategic partner, as had been previously reported by the Russian press.
Baltimor's turnover in 2006 amounted to USD 137m, a 20% increase compared with 2005, Its market share within the Russian ketchup market stands at 48%, said the spokesperson.
Baltimor is involved in producing ketchups, canned products, fruit and vegetable juices, mayonnaise and other sauces, as well as frozen vegetables.
Baltimor Holding is headquartered in Saint Petersburg and employs 2,100 people. The company’s plants are located in the cities of Saint Petersburg, Moscow, Khabarovsk and Krasnodar.
The spokesperson disclosed that Baltimor belonged to three major private shareholders. Aleksey Antipov owns 70% stake, with the remaining 30% owned by Marek Getka and Mila Gutkova in equal
mergermarket
Story Baltimor Holding, a privately-held Russian ketchup and canned products producer, is considering launching an initial public offering in 2008 or 2009, said a company spokesperson.
However, it has not been decided yet if the company would list on either the London and Russian stock exchanges. Also, the company has not decided on the size of the IPO.
The proceeds from IPO would be spent on building new plants to increase the company's presence in the Russian regions. The spokesperson did not rule out the possibility of entering other markets within the Commonwealth of Independent States.
The spokesperson denied that the company would be interested in selling the stake to a strategic partner, as had been previously reported by the Russian press.
Baltimor's turnover in 2006 amounted to USD 137m, a 20% increase compared with 2005, Its market share within the Russian ketchup market stands at 48%, said the spokesperson.
Baltimor is involved in producing ketchups, canned products, fruit and vegetable juices, mayonnaise and other sauces, as well as frozen vegetables.
Baltimor Holding is headquartered in Saint Petersburg and employs 2,100 people. The company’s plants are located in the cities of Saint Petersburg, Moscow, Khabarovsk and Krasnodar.
The spokesperson disclosed that Baltimor belonged to three major private shareholders. Aleksey Antipov owns 70% stake, with the remaining 30% owned by Marek Getka and Mila Gutkova in equal
