A minority shareholder of Novorossiisky Combinat Khleboproduktov (NKHP) seeks to divest to a 20% stake in an initial public offering (IPO) in Moscow, two sources close to the process, said. The sources stated that the shareholder intends to raise between $50 million and $70 million via the IPO, which will take place by the end of November 2015. Summa Group will not sell its stake as part of the IPO.