Moscow Exchange begins trading in Segezha Group
On 28 April 2021, Moscow Exchange began trading in ordinary shares of Segezha Group. The stock trades under the ticker SGZH.
The shares are included in MOEX’s Level 1 List.
Moscow Exchange Supervisory Board Chairman Oleg Viyugin, Segezha Group President Mikhail Shamolin, Sistema President Vladimir Chirakhov, Sistema Managing Partner and Segezha Group Board Chair Ali Uzdenov and Sistema Deputy Board Chair Anna Belova took part in a ceremony marking Segezha Group’s start of trading.
Segezha Group raised RUB 30 billion through its initial public offering (IPO), with the offer price set at RUB 8 per share.
JPMorgan, UBS, VTB Capital, BofA Securities, Gazprombank, Renaissance Capital and Alfa Capital Markets acted as bookrunners for the offering.
Oleg Viyugin, Chairman of the Moscow Exchange Supervisory Board, said:
"The placement of Segezha Group's shares is welcome news for the Russian stock market. I am delighted that the company and its shareholders have chosen Moscow Exchange to raise capital for the further development of their business. Moscow Exchange is unique: Russian and international institutional investors and over 11 million individuals invest through us. Segezha Group's listing provides an opportunity to invest in a previously unrepresented and highly promising industry, the forestry products sector. It is noteworthy that Segezha Group pays great attention to corporate governance; this is demonstrated by the large number of independent directors on the company’s Board, its dividend policy, and the company’s sustainability agenda and investments in environmental initiatives. I wish Segezha Group success as a public company."
Mikhail Shamolin, President and Chairman of the Management Board of Segezha Group:
"Segezha Group's successful IPO represents not just a milestone in the history of the company but also a landmark for the Russian forestry sector and Russian capital markets, as we become the country's first publicly listed company in the sector. We were able to build a strong book of international and Russian institutional investors, as well as generating significant interest from Russian retail investors. I would like to welcome all of our new investors, and look forward to a long and successful history as a publicly traded company on Moscow Exchange."
Segezha Group is one of Russia's largest vertically integrated forestry and wood processing companies. The holding includes Russian and European enterprises of timber, woodworking and pulp and paper industries. The Group operates in 11 countries. Revenue in 2020 increased by 27.4% to RUB 69 billion.
Segezha Group is the world's second largest producer of multi-wall sacks and industrial sack paper, the world's fifth largest producer of large-format birch plywood, the largest producer of sawn timber in Russia, and the largest producer of prefabricated glulam houses.