E-Malt.com News article: 1758

Russian beer maker, OAO Yarpivo, plans a share split, it was reported recently. The brewery won approval for the split at an extraordinary shareholders’ meeting on October 27. Shares currently priced at RUB100 will be split into 100 shares priced at RUB1 each ($1=RUB29.83).

The company forecasts beer sales for 2003 increasing 17% up to 550 million litres year-on-year, according to Anatoly Arzimanov, the president of the OAO Yarpivo. In 2002 the company sold about 470 million litres of beer that is 34% more than in 2001 (350 million litres). Arzimanov said the company might reach 8-9% of Russian market share in 2003 versus 7% in 2002. According to the company’s estimations net profit for 2003 could RUB1.6 billion

Yarpivo was created in 1974. In 1993 it was reorganized in a joint-stock company and has been controlled 60% by Baltic Beverages Holding AB since 1996.

05 November, 2003