Ukraine’s Horizon Capital backs first IPO of Moldovan winery Purcari
By Bermet Talant, Kyiv Post, Kyiv, Ukraine,
Fri, Feb 16, 2018
Purcari, a one of Central and Eastern Europe’s major wine producers, has completed its Initial Public Offering and on Feb. 15 began trading on the Bucharest Stock Exchange with the support of its hands-on investor, Kyiv-based private equity firm Horizon Capital.
Lenna Koszarny (L), a founding partner and chief executive officer of Kyiv-based Horizon Capital private equity fund talks to the participants of the visionary leadership panel at the Tiger Conference, including Erez Eshel (C), Dmytro Shymkiv and Lyuba Shipovich. Horizon Capital on Feb. 15 announced the success of an IPO for Moldovan winery Purcari. (Kostyantyn Chernichkin)
Purcari operates over 1,000 hectares of vineyards and four production platforms, at sites in Romania and Moldova. The winery exports to North America, Central and East Asia, and around Europe.
“Purcari Wineries made history today with the first public listing by a Moldova-based company,” CEO of Horizon Capital Lenna Koszarny said in a statement on Feb. 15. “The offering was well received.”
Through the public launch, Horizon Capital sold a 40.9 percent stake in Purcari but remains an active shareholder, with a 22.7 percent stake, aiming to further capitalize on the fast growth of the winery. Despite seeing a drop in sales in Russia and the CIS, Purcari is still strengthening its market position in Central and Eastern Europe.
“It is truly a great time to be in the wine business: global supply is unable to meet rising consumption, leading to shortages and higher margins for producers,” founder and CEO of Purcari Victor Bostan said.
“We look forward to capitalizing on these favorable conditions.”