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RUSSIA: Efes seeks London listing

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The Russian-based Efes Breweries International (EBI) is to seek a listing on the Lodon Stock Exchange.

The company said on Friday that look for admission for Global Depositary Receipts (GDRs) representing ordinary shares to the UKLA's Official List and to trading on the London Stock Exchange.

EBI unveiled an indicative price range of US$20.75 to US$23.75 per GDR. This gives EBI a market capitalisation of between US$614m and US$703m.
 
A statement said that the offer will raise between US$145m and US$165m, including a capital increase of between US$107m and US$122mn for EBI to finance further growth and for general corporate purposes.

Muhtar Kent, chief executive officer of EBI, said: "By continuing our strategy of focusing on the high-margin mid-to-premium segments of these markets, EBI is well-positioned to capitalise on the accelerating shift in demand to premium products".

Credit Suisse is acting as Lead Manager and Bookrunner to the Global Offer. ABN AMRO Rothschild, CA IB and United Financial Group are acting as Co-Lead Managers. Allen & Company is acting as Selling Agent.


Sectors: Beer & cider

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