PJSC Abrau-Durso Launches First Wine-Backed DFAs on Sber’s Platform

Abrau-Durso, a leading sparkling wine maker in Russia, announces the first issue of digital financial assets on Sber's platform. With their help, qualified investors will have the opportunity to become players in the Russian collectible wine market. The return on DFA depends on the auction results of a specially selected set of collectible wines by the Abrau-Durso Group. The issue of the innovative financial instrument is timed to coincide with the 155th anniversary of the legendary brand, founded by the decree of Emperor Alexander II on November 25, 1870.

PJSC Abrau-Durso issues digital financial assets backed by collectible still and sparkling wines by the Abrau-Durso Group. The innovative instrument allows qualified investors to earn income with guaranteed protection at the level of the key rate of the Bank of Russia and a flat-rate allowance of 3% per annum. The asset being placed is an index-linked DFA focused on the value of wines and formed on the basis of market data.

The digital financial assets are placed on Sber's platform using smart contracts, which ensures automation, transparency and reliability of calculations. All transactions comply with the requirements of Russian legislation, including Federal Law No.259-FZ. The market value of the collectible wines from the Abrau-Durso Group's enoteca, on the basis of which the DFA fund was formed, was assessed by Artur Sarkisyan, Head of the Union of Sommeliers and Experts of Russia, a recognized wine expert, author of the Guide to Russian Wines.

The value of one DFA at the time of placement is RUB155,000, the total number of DFA issued is 100, and the total amount of DFAs issued is RUB15.5 mln. The DFA redemption price is determined based on a fixed index linked to the results of the Abrau-Durso collectible wine auction, which is scheduled at the end of the 3rd year of the DFA's maturity, at the end of 2028. Digital asset rights are formed based on a published index, the values of which will be available in the platform's information system. The basic rate of return is equal to the increase in the value of wines at auction after 3 years, less 30% fees. The minimum rate of return consists of the Central Bank's key rate and an allowance of 3% per annum. Redemption is scheduled for December 26, 2028 to January 31, 2029. Payments are made within two business days after the order confirmation.

The DFAs are available to qualified investors, customers of Sber. Payment is made in rubles, with no option for partial fill or asset split. The issue is considered to have taken place if at least one order is executed in the minimum prescribed amount.

"In the practice of world winemaking, there is a special class of collectible wines, the value of which only increases over time. Such wines are a source of particular pride for all connoisseurs and collectors. Today, wines from the best Russian terroirs are no longer a gastronomic product and are gaining new recognition as investment objects. The exclusive examples crafted by the Abrau-Durso Group and selected for the DFA issue are of particular interest, as they are not only excellent wines, but also a modern digital tool," saidArtur Sarkisyan, Head of the Union of Sommeliers and Experts of Russia, author of the Guide to Russian Wines.

"We are transforming the value of elite Russian wine from a collector's item into a full-value, liquid digital asset. Thus, we are creating a new market niche, opening up a fundamentally new class of investments for investors. The launch of digital financial assets is an important stage in the development of the Abrau-Durso financial ecosystem and another confirmation of the company's sustainability, technological advancement and openness. We strive to integrate modern tools into business processes and create new opportunities for investors, while ensuring a high level of transparency and reliability," commented Boris Titov, Principal Shareholder of Abrau-Durso.

"Sber's digital asset platform allows customization of DFA issues to meet unique business needs and milestone events, one of which was the 155th anniversary of the legendary wine house. The debut issue of the Abrau-Durso DFAs became a vivid example of the transformation of a real-world asset— a rare wine collection— into a boutique digital asset. This instrument opens up an interesting opportunity for qualified investors to become a part of the success of the legendary brand and the Russian wine industry in general. We are pleased that Sber's innovative fintech serves as a tool for creating new classes of digital assets," said Anatoly Popov, Deputy Chairman of the Board of Sberbank.