Russian relief as Segezha completes IPO

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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