By Vladimir Vasiliev
It had been anticipated that sales would continue for at least two months but high demand has cleared ‘the shelves’. In fact, it’s been easier to sell shares in the company than its products! Over the first four months of this year, its profile ‘dipped’ by more than 10 percent, leaving stocks unsold. In fact, it appears to be a global trend that sales of champagne and sparkling wine fall every 8-10 years. Analysts cannot agree on a reason but some connect demand with the general economic mood and people’s desire to celebrate.
Mr. Kravchuk does not agree or reject the idea but admits that demand for Belarusian sparkling wine is seasonal, with peak sales during the winter months, especially for New Year and the Christmas holidays. He regrets that Belarusians are yet to drink sparkling wines through the year, as Europeans often do, having a slightly different attitude to this drink. In Napoleon’s famous phrase: ‘In victory, you deserve Champagne, in defeat, you need it.’ However, the enterprise is planning a marketing campaign to try and remedy the situation.
Mr. Kravchuk is confident that the funds raised through the IPO will cover a programme of modernisation, conducted until 2015. Meanwhile, the controlling stake in the enterprise (75.01 percent) remains in the hands of the state. Individuals now own 7.41 percent of the enterprise’s assets, while legal entities have bought 17.58 percent.
Belgospishcheprom is to open another enterprise: Gomel Fat Factory. Alla Sokolovskaya, who heads the state owned firm, tells us, “The site is having a major upgrade. Its products are good and are in demand: vegetable oil, soap and mayonnaise. We’ve suggested an IPO for 2014.” By then, the company will have completed a number of investment projects. It also wishes to study the successful IPO of Minsk Sparkling Wines Plant and the behaviour of the secondary market. Between the first and second stages of offering, only a few shares were sold in the enterprise but, of course, the number offered was small. Nevertheless, those sold last summer have already risen significantly in price.
