Russian spreads-to-livestock group OAO Rusagro has confirmed that it plans to launch an initial public offering on Moscow’s two exchanges.

The company will list its shares on the RTS and Micex bourses and the offering will be jointly managed by Alfa Capital Markets, Credit Suisse and Renaissance Capital , a spokesperson for the company revealed. 

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The listing is expected to take place in May, however, the group is yet to confirm a date for the share sale.

According to reports citing people close to the mayonnaise and margarine maker, Rusagro hopes to raise in the region of US$250m through the offering.

The company declined to comment on what the proceeds of the sale would be used for, although speculation has centred on the possibility that the group hopes to drive expansion through acquisitions.

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