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2012 Prodimex IPO Possible

Sugar producer Prodimex is mulling a 2012 initial public offering that could raise $300 million to $500 million, the company's head said Monday.

"IPO is one of our options, we can also do a private placement," chief executive Akhim Lukas told journalists on the sidelines of an investment forum. "We plan to use the funds to increase and modernize our production capabilities."

According to the Prodimex web site, the company controls about a fifth of Russia's sugar market and operates 15 refineries and a citric acid plant.

(Reuters)

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