Pivovary Lobkowicz Group AS, one of the Czech Republic’s leading beer producers, hopes to raise nearly CZK 1bn in an IPO on the Prague Stock Exchange later this month. The offer price and allocation will be announced May 23. With the first day of trading scheduled for May 28, Lobkowicz is set to become the country’s first publicly traded brewer. Česká spořitelna will run the offer.
Lobkowicz intends to reinvest all profits raised in the first two years and then will considering paying up to 70 percent of profits in dividends, Zdenek Radil, the company’s chairman, said this week. Lobkowicz producers more than 70 different beers in seven breweries around the Czech Republic. It holds 5 percent of the domestic market. The company posted CZK 1.16bn in revenues last year.
