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Segezha Group raised RUB 30 billion in its IPO

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Segezha Group raised RUB 30 billion in its IPO

Forest industry holding Segezha Group, which belongs to Sistema JSFC, placed 3.75 billion new shares at RUB 8 per share in its initial public offering (IPO). As a result the company raised 30 billion rubles.

According to the holding 3.75 billion shares are placed within the frames of offering, which is almost one third (31.4%) of the company's shares placed earlier. Proceeding from the offering price the amount of funds raised amounts to 30 billion rubles.

After the IPO the stake of AFK Sistema will reach 73.7% not considering the possible realization of the option for additional offering. It is specified that AFK Sistema will additionally place up to 15% of additional shares from the total offer.

Segezha Group is a timber industry holding, which is engaged in the full production cycle, from logging to the production of finished products, such as paper, plywood or packaging. Around a third of its production (32%) is exported to Europe, a quarter of its sales (24%) go to Asia, and another 10% are exported to the Middle East and North Africa.

Made in Russia // Made in Russia

Author: Ksenia Gustova

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