Tinkoff is looking to sell 15% of its shares, according to local reports. Prime-Tass news agency said yesterday (29 March) that the Russian brewery and beer restaurant group is looking to sell the stake to institutional investors next year.

Tinkoff may launch an initial public offering after 2006, the agency said.

The company hopes to increase annual sales this year to US$100m from US$53m in 2004, Tinkoff's owner Oleg Tinkov told Prime-Tass.

Tinkoff will start production at its second brewery in May, Oleg Tinkov said. The new brewery has a capacity of 23m litres a year.