FRANCE: Belvedere to list in Poland next month
French wine and spirits group Belvédère will list on the Warsaw Stock Exchange, its founder and director, Jacques Rouvroy, has told just-drinks.
"The Warsaw listing is expected in February," Rouvroy said today (14 January). The exact date is not known as the listing is awaiting French and Polish stock exchange approval.
Belvedere, the second largest vodka producer in Poland, has been on the French Stock Exchange since 1997. Belvedere hopes the Warsaw listing, under the name SOBIESKI Belvedere, will double the company's value.
"Dual listing Paris and Warsaw makes sense as our core business is in Poland," Rouvroy said. "There is tremendous interest by Polish investors - private investors and pension funds."
Rouvroy said the size of the Polish share block will probably include the 148,200 Belvedere shares - about 6% of the company's capital - bought last July when Rouvroy and Belvedere co-founder Christophe Trylinski regained control of the company from CL Financial.
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