Russian relief as Segezha completes IPO

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By Sam Kerr
28 Apr 2021

Segezha, the Russian paper and pulp company, has completed its IPO on the Moscow exchange. The conclusion of the listing was a relief for the company, given fears that it could have been derailed by political tensions between Russia and the US.

The company sold 3.75bn new shares at Rb8 ($0.11) each, raising Rb30bn in gross proceeds that will be used to fund its investment programme and to optimise the company’s leverage.

For a Russian company to raise so much primary capital in an IPO is unusual, with most recent ...

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