* Biomedical firm wants to raise $9.5 million in Moscow
* Says wants to increase capacity and market share
MOSCOW, Dec 3 (Reuters) - Russian biochemical company Vital Development said on Friday it planned to hold an initial public offering early in 2011 to increase both production capacity and its share of the biochemical reagent market.
The company, which produces reagents for biochemical lab analysis, said it wanted to raise up to 300 million roubles ($9.56 million) via the placement of 12 million shares on Russian bourses, equal to 20 percent of its increased capital.
Vital Development, which generated 131 million roubles in nine-month sales, joins a flurry of Russian companies that have recently announced plans to hold IPOs as capital markets open up on the back of a broad economic recovery.
Financial market sources have this week alone revealed three planned flotations -- by state holding company Russian Helicopters, mid-sized Nomos Bank and agricultural holding company Yug Rusi. ($1=31.37 Rouble) (Reporting by Olga Popova; writing by Maria Kiselyova; Editing by Will Waterman)