Beluga Group Public Joint-Stock Company (MISX:BELU) is planning to sell its quasi-treasury stake as part of an SPO over a period of two years, Principal Owner of the company and Management Board Chairman Alexander Mechetin said during the VTB Capital Investments online conference. "I hope that market conditions will be such that we'll have the opportunity to sell this stake to the market within two years - I am not saying that this is fast, that it is an urgent issue - within two years we will be able to fundamentally improve the free float of the company, increase it, fundamentally improve the daily liquidity of the company's shares. Of course, this will lead to capitalization growth, I am sure of it," Mechetin said. The quasi-treasury stake is more than 20% of the company's capital, he said, while the free float is less than 20%. The small free float is a serious limitation for Beluga Group's capitalization growth, Mechetin said. "In general, our vision is medium-term: we want to increase the company's free float. Today the free float is less than 20%, and we see that this is not enough. That is, the company itself is not very large, the free float is not very large, this creates serious liquidity constraints: some investors want to come in and cannot come in because there are no shares, other investors see that the daily turnover of shares is not very large, this is also a big barrier," he said. "That is, at the last meetings [with investors] in the preceding 12-18 months, we see that this is the most serious constraint. Funds like the company, funds are ready to invest in the company, they see that there is a growth story, i.e. the company is growing, there is a dividend history, there is a stable business, but often the main constraint is a small free float," Mechetin said.