Warsaw (Puls Biznesu) â€“ Belvedere, French vodka producers, considers an IPO on the Polish stock exchange GPW in the first quarter of 2005, PAP news agency said. The news has been announced by Waldemar Rudnik, the deputy CEO of Sobieski Dystrybucja, the Polish unit of Belvedere. Belvedere is listed in Paris. In December, it ended bonds issue worth EUR 35 million. The funds may be spent on the majority stake in Polmos Bialystok, another Polish vodka producer, which is being privatised. CEDC and Polmos Lublin are also interested in acquiring the stake in Polmos Bialystok.