FRANCE: Belvedere may list on Warsaw Stock Exchange - report

By just-drinks.com editorial team | 9 November 2007

Belvedere Group may list its stock on the Warsaw Stock Exchange, while also trading on the Paris bourse, according to reports.

As reported by the Polish News Bulletin yesterday (8 November), the French drinks producer's Polish unit, Grupa Sobieski, has reportedly been attracted by high liquidity on the Warsaw stock market.

The newspaper speculated that a share sale in Warsaw would also allow the company to raise cash for its EUR390m debt repayments, which lowered its first-half results by EUR20m this year.

Earlier this year, Belvedere reported a 47% leap in sales to EUR501.6m (US$676.5m) for the first-half, leading to operating profit in September at EUR18.3m against EUR23.2m a year earlier.

Sectors: Spirits, Wine

Companies: Belvedere