Russia's Thirst for Milk Lures Investors to Wimm-Bill-Dann IPO

Wimm-Bill-Dann Foods OJSC, which sells milk and juice from Moscow to Vladivostok, is finding the prospect of growing consumer demand is luring investors to buy stock in Russia's first initial offering in two years.

``This is a landmark IPO,'' said Peter Grace, an analyst at Gartmore Investment which is considering buying shares in the $263 million sale to add to its $1.5 billion in emerging market and Pacific-region assets. ``It's the first major listing of a fast-growing consumer staples company in Russia.''