The Russian brewery Tinkoff is trying to raise between $US5m and $7m by placing a quarter of its shares among portfolio investors, the company said in a statement Monday.

It went on to say that this total could risr to 50% by 2005 and may also be followed by an initial public offering, the statement said. No other details were available.

Tinkoff group includes Interbir and Novye Tekhnologii (New Technologies) companies. It also runs a brewery in Pushkin and restaurants in Novosibirsk, Samara, St. Petersburg, and Moscow.