Forestry group Segezha raises $400m at Moscow debut
April 28, 2021
Forestry group Segezha raised 30 billion roubles ($401.8 million) at its Moscow debut on Wednesday, with the second Russian company to go public this year achieving a market capitalisation of 125.5 billion roubles.
Retailer Fix Price raised $2 billion last month in Russia’s largest initial public offering since the West imposed sanctions in 2014, and online retailer Ozon staged a successful Nasdaq debut late last year, with analysts expecting more listings.
Segezha, controlled by conglomerate Sistema, tabled an offering consisting of 3,750,000,000 new shares, representing 31.4% of Segezha‘s current share capital. Sistema will retain a 73.7% ownership stake, with a free float of 23.9% expected.
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