Segezha Group intends to conduct an initial public offering (IPO) of ordinary shares and to obtain a listing on the Moscow Exchange, according to the company's statement published on the LSE.
The offering will consist of a primary offering of newly issued shares expected to raise at least RUB 30 billion and an over-allotment option of secondary shares of up to 15% of the Offer Shares expected to be granted by Sistema PJSFC and/or one of its fully owned subsidiaries. Sistema expects to remain majority shareholder post the offering, the statement notes.
Segezha Group is the biggest forest user in the European part of Russia, the total area of leased certificated forest reserves reaches 7.42 million ha, 85.7% of them (6.36 million ha) certified according to voluntary forest certification schemes.
IFRS revenue of Segezha Group for 2020 increased by 17.9% to RUB 69 billion from RUB 58.5 billion. OIBDA increased by 24.5% to RUB 17.5 billion from RUB 14 billion, operating profit by 39.7% to RUB 11.2 billion from RUB 8 billion. Net loss amounted to RUB 1.3 billion against a profit of RUB 4.8 billion a year earlier.
