Belvedere is planning a rights issue. The French vodka company said yesterday (4 April) that it will carry out the issue, worth around €34m, between 6 April and 25 April on the Paris stock market.

The company had originally intended to carry out two simultaneous offerings in both Paris and Warsaw. The Polish listing has been postponed until a later date, Belvedere said, due to delays "inherent to the Polish market."

The French spirits company will put the proceeds from the issue towards acquiring at least 50.1% of Polmos Bialystok, Poland's second-largest vodka producer.