Russian timber company's IPO aims at USD 400 million

RUSSIA / FSU POLITICS - In Brief 13 Apr 2021 by Alex Teddy
On April 12 Segezha announced that it is launching an IPO in Moscow. However, no date has been set. Segezha has doubled its income since 2016. JP Morgan, UBS and VTB Capital are going to be global coordinators and bookrunners for the IPO.The IPO is anticipated to bring the company's value up to USD 1 billion. The company is owned by Sistema Corporation which owns companies in tech, finance, healthcare and realty. Sistema shall retain a controlling stake after the IPO.Segezha is one of the country's major paper and packaging firms. It is a successful exporter which sells to over 100 countries. The company owns 9.2 million Ha forest.The company aims to keep growing and boasts of its biodegradeable packaging. Being ecofriendly is a major selling point. Online retail is a boon to the company.Global expansion, the recovering economy, the decline of plastic and the burgeoning of e-commerce all redound to Segezha's advantage. The president of the company is ebullient about the market outlook.The drop in the RUB has been a boost to Segheza which buys materials in RUB and attains 70% of its income in foreign currencies. The company grossed USD 890 million in 2020. That was a 17% YoY growth.

Now read on...

Register to sample a report

Register
Sign-in
Forgot your password?
Copyright 2024 GlobalSource Partners. All rights reserved. This is prepared for GlobalSource Partners’ clients and may not be redistributed, reproduced, stored in a retrieval system, retransmitted or disclosed, in whole or in part, or in any form or manner, without the express written consent of GlobalSource Partners. This is distributed simultaneously to our website and other portals used by GlobalSource Partners. The information herein was obtained from various sources and is believed to be reliable but GlobalSource Partners does not warrant its completeness or accuracy. Neither GlobalSource Partners nor any Country Analyst, officer or employee accepts any liability whatsoever for any direct, indirect or consequential damages or losses rising from any use of this or its contents.